1. Assume you are the manager of a mustard seed factory in Colombia. Your company has received...
Question:
1. Assume you are the manager of a mustard seed factory in Colombia. Your company has received complaints that there isn't enough mustard seed in your economy size packages, which should have 1.7 ounces. You ask your foreman and chief operating officer Juan Valdez to test the new mustard seed packaging machine you are installing. He runs a sample of 36 packages, with the results of package sizes in ounces:
Dataset two 1.4 1.8 1.8 1.9 1.7 1.75 1.75 1.66 1.81 1.65 1.77 1.75 1.8 2.2 1.7 1.65 1.88 1.9 1.7 1.7 1.6 1.85 1.65 1.65 1.8 1.91 1.7 1.59 1.76 1.65 1.9 2.0 1.91 1.65 1.8 1.8
A. Calculate a 95% confidence interval on the average weight of packaged mustard seed. Explain very carefully to the packaging workers what the 95% confidence interval numbers mean. Include your Excel output. Is there anything you would want to note for management?
Step by Step Answer:
Managerial Accounting A Focus on Ethical Decision Making
ISBN: 978-0324663853
5th edition
Authors: Steve Jackson, Roby Sawyers, Greg Jenkins