Question
In: Statistics and Probability
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 person is $600.
What size of a sample would you require if you want to have the width of the interval is at $100 with 95% confidence interval?
Solutions
orchestra answered 2 years agoRelated Solutions
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.
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