Discuss the below:
Q1) We wish to estimate the average daily yield of a chemical manufactured in a chemical plant. The mean daily yield was recorded for 50 days, and found to be 871 tons/day. The standard deviation turned out to be 21 tons. Test the null hypothesis that the average daily yield of the chemical is 880 tons at α=0.5 .
Q2) Given the following sample data, what is the best estimate of μ , and what is the best estimate of σ . 865, 870, 872, 875, 877, 880.