M&M's: Confidence Limits and Quality Control
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A 95% confidence limit is basically plus and minus two standard deviations from the mean in both directions the attached illustration (which you have seen before) shows confidence limits of 68%, 95% and 99.7%.
M&M data for the regular 1.69 size bags of M&M's, the historical average works out to be 56.5 M&M's per bag - with a standard deviation of 1.2 M&M's.
How can we use this information to determine what we should get in a bag of M&M's 95% of the time?
How do you think the M&M company uses this information in quality control?
See the attached file.
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Solution Summary
This solution discusses the importance of the confidence limit and the significance of that data for a corporation.
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