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    Hypothesis testing :T test

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    The management of White Industries is considering a new method of assembling its golf cart. The present method requires 42.3 minutes, on the average, to assemble a cart. The mean assembly time for a random sample of 24 carts, using the new method, was 40.6 minutes, and the standard deviation of the sample was 2.7 minutes. Using the .10 level of significance, can we conclude that the assembly time using the new method is faster?

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    Solution Summary

    The solution provides step by step method for the calculation of t test statistic . Formula for the calculation and Interpretations of the results are also included.
    This problem is from the book

    Lind, D., Marchal, W., Wathen, S., (2008). Statistical Techniques in Business and Economics.13th ed. Pg 332-360: McGraw-Hill/Irwin Series