A woman sued a computer keyboard manufacturer, charging that her repetitive stress injuries were caused by the keyboard. The jury awarded about $3.5 million for pain and suffering, but the court then set aside that award as being unreasonable compensation. In making this determination, the court identified a "normative" group of 27 similar cases and specified a reasonable award as one within 2 standard deviations of the mean of the awards in the 27 cases. The 27 award amounts (in thousands of dollars) are in the table below. 39 60 75 115 135 140 149 150 236 290 340 410 600 750 750 750 1,050 1,100 1,139 1,150 1,200 1,200 1,250 1,572 1,700 1,825 2,000 What is the maximum possible amount (in thousands of dollars) that could be awarded under the "2-standard deviations rule"? (Round your answer to three decimal places.) $ thousand
A woman sued a computer keyboard manufacturer, charging that her repetitive stress injuries were caused by the keyboard. The jury awarded about $3.5 million for pain and suffering, but the court then set aside that award as being unreasonable compensation. In making this determination, the court identified a "normative" group of 27 similar cases and specified a reasonable award as one within 2 standard deviations of the mean of the awards in the 27 cases. The 27 award amounts (in thousands of dollars) are in the table below.
39
60
75
115
135
140
149
150
236
290
340
410
600
750
750
750
1,050
1,100
1,139
1,150
1,200
1,200
1,250
1,572
1,700
1,825
2,000
What is the maximum possible amount (in thousands of dollars) that could be awarded under the "2-standard deviations rule"? (Round your answer to three decimal places.)
$ thousand
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 4 images
