Determine its mean repair cost per collision

Reference no: EM13902093

A company self-insures its large fleet of cars against collisions. To determine its mean repair cost per collision, it has randomly chosen a sample of 16 accidents. If the average repair cost in these accidents is $2,200 with a sample standard deviation of $800, find a 90 percent confidence interval estimate of the mean cost per collision.

Reference no: EM13902093

Questions Cloud

Construct a 95 percent lower confidence interval estimate : Construct a 95 percent confidence interval estimate of the average IQ score of all students at the university. Construct a 95 percent lower confidence interval estimate.

Explain in a detailed stepwise arrow pushing mechanism : Explain in a detailed stepwise arrow pushing mechanism showing why when cyclopentene is treated with Br2 that trans-1,2-dibromocyclopentane is the major product at low temperatures but at high temperatures a racemic mixture of 3-bromocyclopentene is ..

Find mean price of all recently sold houses in this city : Suppose that a random sample of nine recently sold houses in a certain city resulted in a sample mean price of $222,000, with a sample standard deviation of $22,000. Give a 95 percent upper confidence interval for the mean price of all recently ..

Give the expected major product or products : Instructions: Give the expected major product or products in each of the following transformations. Clearly show the stereochemistry where appropriate (i.e., with the use of wedged or dashed lines, or other unambiguous convention).

Determine its mean repair cost per collision : A company self-insures its large fleet of cars against collisions. To determine its mean repair cost per collision, it has randomly chosen a sample of 16 accidents. If the average repair cost in these accidents is $2,200 with a sample standard de..

Calculate the amount of postretirement health care benefit : Calculate the amount of the postretirement health care benefit obligation reported by the firm at the end of 2010. Discuss what classification category (or categories) on the balance sheet would appropriately include the obligation.

Write the equations for the these oxides : Write the equations for the these oxides when they dissolve in water: eg. oxide is SO2 Equation: SO2 (g) + H2O(l) --> H2SO3 (aq)

Consider a solution with a volume of 160 ml t : Consider a solution with a volume of 160 mL that contains 400 mg of NH3 and 980 mg of NH4NO3. (Given: Kb (NH3) = 1.8 x 10-5 ) What volume of 10 M HCl must be added to 100 mL of the original solution to change its pH to 9.00?

What circumstances give rise to actuarial gains and losses : Amortization of actuarial gains and losses: What circumstances give rise to actuarial gains and losses? What is a prior service cost? Provide an example of a plan change that would generate an amount labeled prior service cost.

User Account

All Pages