If we use the data given in Exercise 1, we get this 90% confidence interval estimate of
Question:
If we use the data given in Exercise 1, we get this 90% confidence interval estimate of the standard deviation of weights with the new minting process: 0.01686 g < σ < 0.03128 g. What does this confidence interval tell us about the new filling process?
Exercise 1
Assume that the U.S. Mint manufactures dollar coins so that the standard deviation is 0.04000 g (based on Data Set 40 “Coin Weights” in Appendix B). Listed below are weights (grams) of dollar coins manufactured with a new process designed to decrease the standard deviation so that it is less than 0.04000 g. This sample has these summary statistics: n = 16, X̅ = 8.06576 g, s = 0.02176 g. If we want to use a 0.05 significance level to test the claim that the sample is from a population with a standard deviation less than 0.04000 g, what requirements must be satisfied? How does the normality requirement for a hypothesis test of a claim about a standard deviation differ from the normality requirement for a hypothesis test of a claim about a mean?
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The given exercise and question involve statistical analysis related to the standard deviation of weights of dollar coins manufactured using a new process Lets break down the exercise and question ste...View the full answer
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