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Confidence interval for the true mean cost of repair

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Reference no: EM133034471

Problen: An automotive engineer wants to estimate the cost of repairing a car that experiences a 25 MPH head-on collision. He crashes 24 cars, and the average repair is $11,000. The standard deviation of the 24-car sample is $2,500.

a) Provide a 98% confidence interval for the true mean cost of repair.

b) Please explain how you arrived to your answer. Could you provide a 95% confidence interval for the true mean cost of repair?

Reference no: EM133034471

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