Determine fuel efficiency and miles per gallon

Assignment Help Accounting Basics

Reference no: EM133608899

TESTING A MANUFACTURER'S MPG CLAIM: PART 1

Companies often develop and test hypotheses about their products. For example, car manufacturers will test their cars to determine fuel efficiency and miles per gallon. To ensure that products are safe and that they perform as advertised, regulatory and consumer protection groups also test companies' claims.

For this Assignment, you are working at a firm that conducts independent testing for heavy industry. Recently, an automobile manufacturer has been in the news for complaints about the highway gas mileage of their latest model minivan. You receive a contract from a consumer action group to test and write a report on the company's claim that its minivans get 28 miles per gallon on the highway. The car company agrees to allow you to select randomly 35 low-mileage fleet minivans to test their highway mileage. Your test results gave you the following data:

29.7 24.5 27.1 29.8 29.2 27.0 27.8 24.1 29.3

25.9 26.2 24.5 32.8 26.8 27.8 24.0 23.6 29.2

26.5 27.7 27.1 23.7 24.1 27.2 25.9 26.7 27.8

27.3 27.6 22.8 25.3 26.6 26.4 27.1 26.1

Submit Part 1 of your report according to the following prompts.

PART 1: SAMPLE MEAN, STANDARD DEVIATION, AND CONFIDENCE INTERVAL

Complete the following and include your results and responses in your report:

Include a brief introduction that provides a context for the assignment you have been given by your firm.
Calculate a 95% confidence interval around your sample mean.
Note: Include your calculations. If your calculations are submitted separately, make note of where they can be found.
Is the company's claimed mean inside your confidence interval?
What does that result indicate about the company's claim?
Note: For each prompt, be sure to reference at least one scholarly source to support your answer.

Use the Week 4 Assignment Template, provided in this week's Learning Resources, to complete this Assignment.

template

Introduction
Replace this text with your response to the following: Include a brief introduction that provides a
context for the assignment you have been given by your firm.
Part 1: Sample Mean, Standard Deviation, and Confidence Interval
Calculating the Confidence Interval
Replace this text with your response to the following in 75 words (1 paragraph): Calculate a 95%
confidence interval around your sample mean. Include your calculations. If your calculations are
submitted separately, make note of where they can be found.
Interpreting the Confidence Interval
Replace this text with your response to the following Is the company's
claimed mean inside your confidence interval?
Replace this text with your response to the following What does that result
indicate about the company's claim?

Reference no: EM133608899

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