AluminiCorp is a major producer of aluminium cans that produce 40 billion aluminium cans every year. You work as a quality control officer for AluminiCorp and are responsible for ensuring that the aluminium cans produced to meet certain specifications. Each can is supposed to consist of precisely 15 grams of aluminium, and the market price for aluminium is $0.95 per pound (important note: there are 454 grams in one pound). The file aluminicorpfa10.xlsx contains data on samples taken from multiple plants under your purview. Use the data to answer the following questions. Problems 3.1 and 3.2 come from week 7 material, and 3.3 relates to week 8 material. Problem 3.1 Column A contains aluminium content data from a sample of 100 cans taken from your Akron plant. The Akron plant produces 2 billion cans every year.
a) Construct a 95% confidence interval for the population mean aluminium content.b) EXTRA CREDIT-Construct a 95% confidence interval for the total expenditure on aluminium at the Akron plant. How much money could AluminiCorp save if the Akron plant actually produced cans that were at the target aluminium content?c) Based on your answer in part (a) (and part (b) if you did that), explain (in plain English) what these results mean. Hint: make sure you keep your units of measurement consistent (grams v. pounds)! Excel Tips: The Excel functions =TDIST and =TINV are similar to the functions =NORMSDIST and =NORMSINV and can be used to calculate T critical values. See the Excel help file for instructions on the syntax for this function.A general tip for this problem. In part (a), you calculated a confidence interval for aluminium content. The units of your mean and standard deviation are grams per can. For part (b), you need to first convert your sample mean and standard deviation from part (a) from grams per can into dollars per can.
Confidence Interval Estimate for the Mean Confidence Interval Estimate for the Mean DataSample Standard DeviationSample MeanSample SizeConfidence Level Sample Standard DeviationSample Mean..
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