ou destroy 121 parts by dropping them from a height of ten feet and you estimate that the average cost to repair each part is $893. The population standard deviation of the repair costs is $69. Estimate the 90% confidence interval for the true mean cost of repair. What is the lower bound on the 90% confidence interval for the true mean cost of repair? Estimate your response to the first decimal point, that is, 9.1 instead of 9.
ou destroy 121 parts by dropping them from a height of ten feet and you estimate that the average cost to repair each part is $893. The population standard deviation of the repair costs is $69. Estimate the 90% confidence interval for the true mean cost of repair. What is the lower bound on the 90% confidence interval for the true mean cost of repair? Estimate your response to the first decimal point, that is, 9.1 instead of 9.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
Assume that you can engage in destructive testing of a part. You destroy 121 parts by dropping them from a height of ten feet and you estimate that the average cost to repair each part is $893. The population standard deviation of the repair costs is $69.
Estimate the 90% confidence interval for the true mean cost of repair.
What is the lower bound on the 90% confidence interval for the true mean cost of repair?
Estimate your response to the first decimal point, that is, 9.1 instead of 9.
Expert Solution
Step 1: given
Mean = 893
Standard deviation = 69
Step by step
Solved in 3 steps
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