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Use the dataset provided for this problem. I will link a sharable Google docs form. Dataset will come in Microsoft Excel format. You will get
Use the dataset provided for this problem. I will link a sharable Google docs form. Dataset will come in Microsoft Excel format. You will get a list of weights for 20kg weight plates made by two companies (E) and (T) respectively.
- Make a histogram of the weights for each company. Analyze the distributions and explain.
- Calculate the confidence intervals for the mean of plates made by company E versus company T. Do not worry about degrees of freedom. Use Z = 1.96 for calculations.
- The International Weightlifting Federation (IWF) requires that mean weight of plates used in the Olympic Games and other competitions be within .1 kg of the stated weight with 95% confidence. Can either company meet this requirement? Explain.
- Suppose a contract with the IWF is worth $10,000,000. A company can upgrade their manufacturing facility and eliminate outliers. Each upgrade costs $2,500,000 and eliminates one outlier. When an outlier is eliminated, recalculate the confidence interval for the mean without it included. For the company or companies that failed to meet the standard for part (c) of this question, is it profitable to make these upgrades? Explain.
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