Question
In: Statistics and Probability
The Wall Street Journal reported that automobile crashes cost the United States $162 billion annually (The...
The Wall Street Journal reported that automobile crashes cost the United States $162 billion annually (The Wall Street Journal, March 5, 2008). The average cost per person for crashes was reported to be $1599. Suppose this average cost was based on a sample of 50 persons who have been involved in car crashes. The population standard deviation cost per person is $600.
Calculate a 95% confidence interval of the population mean cost per person for the crashes in the United States.
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The Wall Street Journal reported that automobile crashes cost the United States $162 billion annually
The Wall Street Journal reported that
automobile crashes cost the United States $162 billion annually
(The Wall Street Journal, March 5, 2008). The average cost
per person for crashes was reported to be $1599. Suppose this
average cost was based on a sample of 50 persons who have been
involved in car crashes. The population standard deviation cost per
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