The active ingredient in antiseptic liquid bandages is 8-hydroxyquinoline (8h). This chemical can be harmful through simple skin contact, by swallowing, or inhalation. Suppose the list of ingredients on a 3M Nexcare liquid bandage indicates that the volume of 8h is 1%. A random sample of seven bottles of this product was obtained, and each was analyzed to obtain the volume of 8h. The sample mean was x = 1.027%. Assume the underlying population is normal and σ = 0.04. Is there any evidence to suggest that the true mean percentage of 8h is different from 1%? Use α = 0.01.
(a) Calculate the test statistic. (Round your answer to two decimal places.)
Z=_____________
(b) Compute the p value. (Round your answer to four decimal places.)
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