(Answered) Production rates a manufacturing company wishes to estimate

Finance

Production Rates A manufacturing company wishes to estimate the number of items that its workforce can produce on average each hour now that they have a new machine. The factory examined the records for a random sample of 8 hours over the past month. The hourly production rates for these 8 hours were:

158 162 171 164 194 152 169 176

(a) Calculate by hand and interpret the 95 percent confidence interval for the average number of items produced per hour.

(b) What assumption did you make for the population in order to answer part (a)?

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