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April 18, 2014

Homework Help: Finance

Posted by Jaison on Tuesday, November 22, 2011 at 12:38pm.

1) A potato chip manufacturer has been accused of shortchanging their customers with their 10-ounce bags of potato chips. A sample of 50 of that company’s 10-ounce bags was taken, and it was found that the average weight was 9.8 ounces with a standard deviation of 0.3 ounces. Can we conclude that the company’s bags of potato chips are less than 10 ounces? Use a 5% significance level.

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