1. A quality control team conducted a study to measure the time it takes to complete a specific quality check in a manufacturing plant. They collected data from a random sample of 18 quality checks and found that the average time was 9.7 minutes, with a standard deviation of 1.5 minutes.

Required:

Assuming that the times are normally distributed, calculate the 99% confidence interval for the mean time required to complete the quality check. (5 marks)

ANSWER:

2. Your younger brother is confused about some fundamental statistics concepts and struggles to understand whether these concepts are similar or different, as well as their application in business decision-making. As someone who has studied statistics, you promised to help him. Assume his doubts are primarily about data classification, scales of measurement, and the use of sample statistics as point estimators for population parameters.

Required:

Provide a brief explanation based on the content learned in this unit supported by examples. (5 marks)

ANSWER: