The variance in a production process is an important measure of the quality of the process. A large variance often signals an opportunity for improvement in the process by finding ways to reduce the process variance. Conduct a statistical test to determine whether there is a significant difference between the variances in the bag weights for the two machines. Use a 0.05  level of significance. What is your conclusion? Which machine, if either, provides the greater opportunity for quality improvements? Machine 1 Machine 2 2.95 3.22 3.45 3.30 3.50 3.34 3.75 3.28 3.48 3.29 3.26 3.25 3.33 3.30 3.20 3.27 3.16 3.38 3.20 3.34 3.22 3.35 3.38 3.19 3.90 3.35 3.36 3.05 3.25 3.36 3.28 3.28 3.20 3.30 3.22 3.28 2.98 3.30 3.45 3.20 3.70 3.16 3.34 3.33 3.18   3.35   3.12     F =  to 2 decimals

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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.