The Coffee and Soup Machine at the Local Subway Station

question 42

Short Answer

The coffee and soup machine at the local subway station is supposed to fill cups with 6 ounces of soup. Ten cups of soup are bought, with results of a mean of 5.93 ounces and a standard deviation of .13 ounces. Construct a 95.44 percent tolerance interval of the machine-fill amounts and a 95 percent confidence interval for the true machine-fill amount.

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Definitions:

Individual Preferences

The specific likes, dislikes, desires, and needs that dictate the choices made by an individual, often influencing economic decisions and behaviors.

Majority Rule

A decision rule that selects alternatives which have a majority, that is, more than half the votes.

Logrolling

The practice of exchanging favors, especially in politics by reciprocal voting for each other's proposed legislation.

Public Choice

A field of economics that applies economic methods to the study of political and administrative decision-making.