# P-Value and Interpretation of Meaning

The owner of a supply store needs to know if the mean amount of turpentine in 1- gallon containers bought from a well known company is indeed 1 gallon. Knowing that the standard deviation for the amount of turpentine is 0.02 gallon, he selects a random sample of 50 containers, and the mean amount of turpentine per 1-gallon container is 0.995 gallon.

1. Does anything suggest that the population mean amount is different 1.0 gallon? (use a=0.01)

Figure out the p-value and interpret its meaning.

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#### Solution Preview

The owner of a supply store needs to know if the mean amount of turpentine in 1- gallon containers bought from a well-known company is indeed 1 gallon. Knowing that the standard deviation for the amount of turpentine is 0.02 gallon, he selects a random sample of 50 containers, and the mean amount of turpentine per 1-gallon container is 0.995 gallon.

1. Does anything suggest ...

#### Solution Summary

The expert examines the p value and interpretation of meanings.