QN(1): A Company produces running shoes sold across the country targeting elite runners. Achieving a specific...

QN(1): A Company produces running shoes sold across the country targeting elite runners. Achieving a specific weight of a pair of shoes is very critical for acceptance by athletes. A sample of 51 pairs of shoes (i.e. n=51) gave a variance (S²) = 5 when weight is measured in grams.

(a): Construct a 90% confidence interval estimate of the population variance for the weight of pair of shoes [10 marks]

(b): Suppose the company would like a shoe weight variance of 3.5 or less. Construct and carry out a hypothesis test (one sided, upper tail at a=5%) to help the company determine if the variance is excessive. [10 marks] (hint: make sure to show the null and alternative hypothesis).

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Expert Solution

orchestra answered 1 year ago

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