A Manufacturer Wants to Increase the Shelf Life of a Line

question 129

Multiple Choice

A manufacturer wants to increase the shelf life of a line of cake mixes. Past records indicate that the average shelf life of the mix is 216 days. After a revised mix has been developed, a sample of nine boxes of cake mix gave these shelf lives (in days) : 215, 217, 218, 219, 216, 217, 217, 218 and 218. At the 0.025 level, has the shelf life of the cake mix increased?

• A) Yes, because computed t is greater than the critical value.
• B) Yes, because computed t is less than the critical value.
• C) No, because computed t lies in the region of acceptance.
• D) No, because 217.24 is quite close to 216.

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Definitions:

Free Rider

An individual who benefits from resources, goods, or services without paying for the cost of the benefit.

Nonexcludable

Describes a good or service that prevents individuals from being excluded from using it; typically, because it is not feasible or cost-effective to do so.

Inefficiently High Level

A scenario where more resources are used than necessary, leading to waste and inefficiency.

Common Resource

A type of good that provides benefits to many individuals, but which has the potential to be depleted or overused because it is not excludable.