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A lending firm knows a financial application takes on average 12.8 minutes and has a standard deviation of 2.1 minutes. A project manager thinks that since he works with farmers the application will take longer to complete. He took a sample of 36 completed applications and found the average time was 13.4 minutes. The sample data is normally distributed. Use α = 0.05. Is he correct in his assumption?
Conduct a full hypothesis test for this problem.
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Find that the mean weight in the sample is 308 pounds.The standard deviation is 23. Using significance level of .01 test the null hypothesis using 5-step procedure.
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Assuming that the manager wants at most a 5% chance of this happening, at what level should she set the mean fill level? Comment on the ramifications of this step, assuming that the company fills tens of thousands of cans each week.
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