Company officials are concerned about the length of time a particular drug retains its potency. A random sample (sample 1) of 6 bottles of the product is drawn from current production and analyzed for potency. A second sample (sample 2) of 6 bottles is obtained, stored for 1 year, and then analyzed. The readings obtained are as follows. (Note: The bottles in the second sample are not same the bottles used in the first sample.) Sample 1 10.2 10.5 10.3 10.8 9.8 10.6 s = 0.3502 =
Sample 2 9.8 9.6 10.1 10.2 10.1 9.7 s = 0.2483 =
1) Is there statistically significant loss of the drug’s potency after it has been stored for a year at the 0.05 level? Be sure to show your work and state the null and alternative hypotheses.
2) Construct a 95% confidence interval for the mean loss of the drug’s potency after it has been stored for a year.