A building contractor provides a detailed estimate of his charges by listing the price of all of his material and labor charges to the nearest dollar. Suppose the rounding charge errors can be treated as independent random variables following Unif(-5, 25] distributions. If arecent estimate from the building contractor listed 1000 charges, find the minimum error for the contractor's estimate with probability of 0.90. (in other words, the final job will not deviate minimum more than how much dollars from the original estimate with 90% confidence.) Provide a numerical answer only.
A building contractor provides a detailed estimate of his charges by listing the price of all of his material and labor charges to the nearest dollar. Suppose the rounding charge errors can be treated as independent random variables following Unif(-5, 25] distributions. If arecent estimate from the building contractor listed 1000 charges, find the minimum error for the contractor's estimate with probability of 0.90. (in other words, the final job will not deviate minimum more than how much dollars from the original estimate with 90% confidence.) Provide a numerical answer only.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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