A dealer in recycled paper places empty trailers at various sites. The trailers are gradually filled by

Question:

A dealer in recycled paper places empty trailers at various sites. The trailers are gradually filled by individuals who bring in old newspapers and magazines and are picked up on several schedules. One such schedule involves pickup every second week. This schedule is desirable if the average amount of recycled paper is more than 1,600 cubic feet per 2-week period. The dealer's records for 18 2-week periods show the following volumes (in cubic feet) at a particular site:
A dealer in recycled paper places empty trailers at various


a. Assuming the 18 2- week periods are fairly typical of the volumes throughout the year, is there significant evidence that the average volume μ is greater than 1,600 cubic feet?
b. Place a 95% confidence interval on μ.
c. Compute the p-value for the test statistic. Is there strong evidence that m is greater than 1,600?

Dealer
A dealer in the securities market is an individual or firm who stands ready and willing to buy a security for its own account (at its bid price) or sell from its own account (at its ask price). A dealer seeks to profit from the spread between the...
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: