A poultry farm sells eggs classified as large, which requires the mean weight of the individual eggs to be 2 oz. The department of weights and measures weighs a random sample of 500 eggs to determine if the mean weight is less than 2 oz at a significance level of 0.05. The results of the sample are given below. Egg weight Mean 2.0029342 Variance 0.0037364 Observations 500 Hypothesized Mean df 499 t Stat 1.0733641 P(T<=t) one-tail t Critical one-tail 0.1418133 1.647913 P(T<=t) two-tail t Critical two-tail 0.2836266 -2 -1 1 3 1.9647294 t-statistic = Ex: 1.9543 p-value = Ex: 0.1845 than the significance level 0.05, the null hypothesis Pick Since the p-value is Pick greater less Sufficient evidence * exist that the mean weight of the eggs is less than 2 oz.

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Confidence Intervals

When we calculate intervals in probability and statistics, it can be simply termed as finding out a confidence interval. The confidence interval is usually calculated from the data set which is observed. The value of the parameter that needs to be calculated is present here only.