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A Pharmaceutical Company Has Just Developed a New Capsule to Alleviate

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Essay

A pharmaceutical company has just developed a new capsule to alleviate the symptoms of allergies and colds.However,they are concerned about the variability in the amount of time until the drug becomes effective.In a random sample of 10 individuals who suffer from allergies,the amount of time (in hours)for the capsule to take effect was recorded and listed as follows: 5,7,6,10,9,12,8,17,4,and 16.Estimate with 90% confidence the variance of the time for the drug to become effective.


Definitions:

Standard Time

The time set for the completion of a task, often used as a benchmark in manufacturing and other operations to measure efficiency.

Confidence

Confidence denotes a belief in oneself, one's abilities, or the reliability of something or someone, reflecting trust and assurance.

Work Sampling

A statistical technique used for analyzing work efficiency and the distribution of work time among different tasks, by taking random samples of work activities.

Time-study Methods

Techniques used to analyze work processes and determine the standard time required for completing a task, aiming at improving efficiency.

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