Question: subject - applied statistics please help me to solve it QUESTION 6 18 MARKSI A producer of extruded plastic products finds that his mean daily

subject - applied statistics

please help me to solve it

QUESTION 6 18 MARKSI A producer of extruded plastic products finds that his mean daily inventory is 1,250 pieces. A new marketing policy has been put into effect and it is of interest to test that the mean daily inventory is still the same. A sample of daily inventories from eight randomly selected days give the following data. 1243 1240 1253 1249 1240 1256 1246 1260 Test at 1% significance level the hypothesis that the mean daily inventory remains unchanged despite the implementation of the new policy. Assume that the data are normally distributed. (8 Marks, CO2/PO3)

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