The data below represent the repair cost for a low-impact collision in a simple rnadom sample of mini- and -micro vehicles $3148 $1758 $1071 $3345 $743 $2057 $663 $2637 $773 $1370 1a. Determine the point estimate of the population mean. Use the appropriate notation. 1b. Determine the margin of error for the 90% confidence interval. Use appropriate notation. 1c. Specify the 90% confidence intervalUse appropriate interval notation. 1d. Give a brief intperetation of the confidence intervalas related to repair costs.
1. The data below represent the repair cost for a low-impact collision in a simple rnadom sample of mini- and -micro vehicles
| $3148 | $1758 | $1071 | $3345 | $743 |
| $2057 | $663 | $2637 | $773 | $1370 |
1a. Determine the point estimate of the population mean. Use the appropriate notation.
1b. Determine the margin of error for the 90% confidence interval. Use appropriate notation.
1c. Specify the 90% confidence intervalUse appropriate interval notation.
1d. Give a brief intperetation of the confidence intervalas related to repair costs.
2. Use the data from the problem #1. Assume a probability normal probability plot suggest the data could come from a population that is normally ditrubuted. A bocplot does not show outliers. Does the sample evidence suggest the cost of repairs to exceed $1200?
2a. what type of test should we use?
____ sample ___ - test for the _____
2b. Write the hypothesis and specify the type of testing (failing). Use appropriate notation for the hypothesis.
Hypothesis:
Tailing:
2c. Calculate (formula/values) the test statistic and the associated p-value
test stat:
P-value:
2d. State the decision of the test.
3e. Express your conclusion concisely using statistically appropriate language applied to repair costs.
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