Leeds is looking at a new stamping process. Stamping now takes 42.3 seconds per bag. Under a new process, they were able to stamp 24 bags with a mean time of 40.6 seconds, and a sample std dev of 2.7 seconds . With alpha = .10, can they decide that the new method takes less time?
A: State your Ho and H1 hypotheses
B: Formulate your decision rule.
C: Show any calculations for the actual test statistics and/or the p value.
D) Did you reject or not reject your null, and why
E) Interpret, what does it mean to your problem?