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As a project for their high school mathematics class, four class members purchase packages of a leading breakfast cereal for subsequent weighing and comparison with the 12-ounce label weight. The students are surprised when they weigh the contents of their four pack- ages and find the average weight to be only 11.5 ounces. When they write to the company, its consumer relations representative explains that "the contents of the ‘12- ounce' packages average 12.2 ounces and have a stan- dard deviation of 0.4 ounces. The amount of cereal will vary from one box to the next, and your sample is very small-this explains why your average weight could be just 11.5 ounces." If the spokesperson's information is correct, how unusual would it be for these students to get a sample mean as small as the one they obtained? Be sure to state any assumptions you have made in obtaining your answer.

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Accounting Basics, Accounting

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