Tesla Motors needs to buy axles for their new car. They are considering using Chris Cross Manufacturing as a vendor. Tesla's requirement is that 95% of the axles are 100 cm ± 2 cm. The following data is MegaStat output from a test run from Chris Cross Manufacturing.
Should Tesla select them as a vendor?
Explain your answer.
sample variance 2.313
sample standard deviation 1.521
population variance 2.169
population standard deviation 1.473
standard error of the mean 0.380
Tolerance interval 95.45% lower 96.896
Tolerance interval 95.45% upper 102.979
1st quartile 98.900
3rd quartile 100.475
interquartile range 1.575
mode 98.900© BrainMass Inc. brainmass.com June 4, 2020, 1:06 am ad1c9bdddf
The solution provides step by step method for the calculation of confidence interval for population mean. Formula for the calculation and Interpretations of the results are also included.