Confidence interval for the mean repair cost

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With destructive testing, sample items are destroyed in the process of testing them. Crash testing of cars is one very expensive example of destructive testing. Twelve Dodge Viper sports cars (list price $59,300) are crash tested under a variety of conditions that simulate typical collisions. The average repair cost for the 12 damaged cars was $26,227. Assume that all repair costs are normally distributed with = $15, 873 (based on data from the Highway Loss Data Institute). Construct a 95% confidence interval for the mean repair cost for all Dodge Vipers involved in collisions.

Reference no: EM132340644

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