A company packages powdered soap in 6-pound boxes. The sample mean and standard deviation of the soap in these boxes are currently 6.09 pounds and 0.02 pound, respectively. If the mean fill can be lowered by 0.01 pound, $14,000 would be saved per year. Adjustments were made in the filling equipment, but it can be assumed that the standard deviation remains unchanged. (a) How large a sample is needed so that the maximum error of the estimate of the new is = 0.001 with 90% confidence? (b) A random sample of size n = 1219 yielded x = 6.048 and s = 0.022. Calculate a 90% confidence interval for . (c) Estimate the savings per year with these new adjustments. (d) Estimate the proportion of boxes that will now weigh less than 6 pounds.

Chapter1: Data and Decisions What do you think isStatistics What are statistics Hal Varian (GoogleChief Economist) video on Statistics and Data; http://www.youtube.com/watchv=D4FQsYTbLoI “The sexy profession of the next decade will be statistician.” He made the quote in 2008 Varian then goes on to say: “The ability to take data - to be able to understand it, to process it, to extract...