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We are going to say that 1 grain of rice represents $26,000.
1. The Poverty line for a family of 4 in the U.S. is approximately $26,00. How many grains of rice represents this amount?
2. The average American family has a net worth $100,000. How many grains of rice represents this amount?
3. Jeff Bezos has an estimated net worth of $182 billion dollars. How many grains of rice represents this amount?
4. The answer from part three is still really large and hard to visualize? Suppose that one grain of rice weighs 1/64 grams. How many grams of rice represents Jeff Bezos's net worth? Convert this amount to pounds. Show your work using unit analysis.
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At the 5% level of significance test whether the bottling process is carried out accurately or whether the filling machinery needs calibration. Use both the critical and the p-value approaches.
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