The weekly flier from a large box store always features many items having a mail-in rebate. A random sample of 50 submissions produced the summary statistics X̅ = 43 and s = 7. 7 days for the time interval between submission and receipt of the rebate check.
(a) Is the claim that μ > 40 days substantiated by the data? Take a = .05 .
(b) Based on your decision in part (a), what error could you have possibly made? Explain in the context of the problem.