If the Variance of the Contents of Cans of Orange

question 23

Multiple Choice

If the variance of the contents of cans of orange juice is significantly more than 0.003, the manager has to order to stop the filling machine. A sample of 26 cans of orange juice showed a standard deviation of 0.06 ounce. Based on the sample and at the 0.05 level of significance, the filling machine should be

• A) stopped.
• B) kept going.
• C) upgraded.
• D) downgraded.

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Definitions:

Baby Formula

A manufactured food designed and marketed for feeding to babies and infants, usually prepared for bottle-feeding or cup-feeding from powder or liquid.

Price Decrease

a reduction in the cost of goods or services, often triggered by factors such as increased supply, reduced demand, or competitive pricing strategies.

Income Effect

The change in an individual's or economy's income and how that change will impact the quantity demanded of a good or service.

Inferior Good

A good, such as used clothes, for which demand decreases, or shifts leftward, as consumer income rises.