Statistics For Business And Economics
A particular brand of diet margarine was analyzed to determine the level of polyunsaturated fatty acid (in percent). A sample of six packages resulted in the following data:16.8, 17.2, 17.4, 16.9, 16.5, 17.1.
(a) Test the hypothesis that the mean is not 17.0, using the P-value approach (enter a value of 1 to reject, enter a value of 2 to accept).
(b) Suppose that if the mean polyunsaturated fatty acid content is u = 17.5, it is important to detect this with probability at least 0.90. Is the sample size n = 6 adequate(if so enter a value of 1, if not enter a value of 2)? Use the sample standard deviation to estimate the population standard deviation o.
Use a = 0.01. Find a 99% two-sided CI on the mean u: (c) lower bound and (d) upper bound. Round your answers to 2 decimal places.
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