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An investment advisory company has been having problems with the printery which is responsible for the...

An investment advisory company has been having problems with the printery which is responsible for the printing of the company’s weekly stock reports. The company requires that the printing of the report be completed within 24 hours of receipt of the necessary files and documentation and specifies a standard deviation of 2 hours. They are prepared to employ a different printery if they can establish statistically that the printery is not meeting their requirements. A sample of thirty recent printing times for reports has a mean printing time of 25 hours.

i. Test the company’s claim using 1% level of significance.

ii. How would your answer in (a) change if the standard deviation had been three hours?

Math   Statistics-And-Probability   
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