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    Testing of Hypothesis for Variance with P-Value Method

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    A random sample of 51 observations was selected from a normally distributed population. The sample mean was = 88.6, and the sample variance was s2 = 38.2. Does the sample show sufficient reason to conclude that the population standard deviation is not equal to 8 at the 0.05 level of significance? Use the p-value method.

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    Solution Summary

    Step-by-step method for testing the hypothesis for variance under 5 step approach is discussed here. Excel template for each problem is also included. This template can be used to obtain the answers of similar problems.