A company claims that the variance in their delivery time is less than 25 day
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A company claims that the variance in their delivery time is less than 25 day

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?

Hint
StatisticsThe critical value approach is used to determine the likelihood or unlikelihood by ascertaining if the observed test statistic is riskier than is expected if a null hypothesis was true or not. In this approach, you calculate the test statistic then find the critical value that corresponds to the given confidence level....

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