Problem 2:
A company claims that the variance in their delivery time is less than 25 days. A sample of 27 past customers is taken. The average delivery time in the sample was 14 days with a standard deviation of 4.5 days.
a. Formulate the hypotheses to test the company's claim.
b. Compute the value of the test statistic.
c. At 95% confidence, what is your conclusion using the p-value approach?
d. At 95% confidence, what is your conclusion using the critical value approach?
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