Suppose this average cost was based on a sample of 55 persons who had been involved in car crashes and that the population standard deviation is σ = 600. What would you recommend if the study required a margin of error of $150 or less?
Suppose this average cost was based on a sample of 55 persons who had been involved in car crashes and that the population standard deviation is σ = 600. What would you recommend if the study required a margin of error of $150 or less?
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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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 in the Tampa, Florida, area was reported to be $1613. Suppose this average cost was based on a sample of 55 persons who had been involved in car crashes and that the population standard deviation is σ = 600.
What would you recommend if the study required a margin of error of $150 or less?
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