Waiting time on special orders


Problem:

A furniture store claims that a specially ordered product will take on average, a mean of 42 days to arrive. The standard deviation of these waiting times is 7 days. We suspect that the special orders are taking longer than this. To test this suspicion, we track a radom sample of 80 special orders and find that the orders took a mean of 44 days to arrive. Can we conclude at the 0.01 level of significance that the mean waiting time on special orders at this furniture store exceeds 42 days?

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Accounting Basics: Waiting time on special orders
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