auto industry analyst was interested in the relationship between annual repair st for Honda Civics and age of the vehicles. A 95% confidence interval given a hicle age of 4 years was determined to be ($284.20, $330.74). This interval can be cerpreted as: If you own a 4-year old Honda Civic, the probability that you will pay between $284.20 and $330.74 in repair costs per year is 95% There is a 95% probability that mean annual repair cost for 4-year old Honda Civics will be between $284.20 and $330.74 We are 95% confident that the annual repair cost for 4-year old Honda $284 20 and $330.74

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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An auto industry analyst was interested in the relationship between annual repair
cost for Honda Civics and age of the vehicles. A 95% confidence interval given a
vehicle age of 4 years was determined to be ($284.20, $330.74). This interval can be
interpreted as:
If you own a 4-year old Honda Civic, the probability that you will pay between
$284.20 and $330.74 in repair costs per year is 95%
There is a 95% probability that mean annual repair cost for 4-year old Honda
Civics will be between $284.20 and $330.74
) We are 95% confident that the annual repair cost for 4-year old Honda
Civics will be between $284.20 and $330.74
Transcribed Image Text:An auto industry analyst was interested in the relationship between annual repair cost for Honda Civics and age of the vehicles. A 95% confidence interval given a vehicle age of 4 years was determined to be ($284.20, $330.74). This interval can be interpreted as: If you own a 4-year old Honda Civic, the probability that you will pay between $284.20 and $330.74 in repair costs per year is 95% There is a 95% probability that mean annual repair cost for 4-year old Honda Civics will be between $284.20 and $330.74 ) We are 95% confident that the annual repair cost for 4-year old Honda Civics will be between $284.20 and $330.74
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