A lumber company has claimed that the standard deviation for the lengths of their 6 foot boards is 0.5 inches or less. To test their claim , a random sample of 17 six-foot boards is selected; and it is determined that the standard deviation of the sample is 0.42. Do the results of the sample support the company's claim? Use alpha = 0.05.
Step by step method for testing the hypothesis 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.