The Florida Fruit Supply Company uses bottles that are labeled as containing 23 oz of orange juice. A random sample of 24 such bottles shows that the sample mean and standard deviation are 22.75 oz and 0.67 oz , respectively. Test the claim that the bottles contain an average of 23 oz.
1) State the appropriate null and alternative hypotheses.
2) Conduct a test of hypotheses identified above.
a) Calculate the test statistic.
b) Calculate the corresponding p-value.
c) Make a statistical decision using level of significance of 0.05. Justify your decision.
d) Interpret your decision in the context of the problem.