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A research group needs to determine a 90% confidence interval for the mean repair cost for all car insurance small claims. From past research, it is known that the standard deviation of such claims amounts to $124.88.
(a) What is the critical value that corresponds to the given level of confidence? Round to two decimals and remember that critical values are defined to be positive.
(b) If the group wants their estimate to have a maximum error of $12, how many small claims should they sample? Remember to round up to the next integer.
1) Suppose that 25 examinees are picked at random. Let X be the mean GMAT score of the 25 examinees selected. Find the mean and standard deviation of the sample mean GMAT score X. 2) Find the probability that the mean GMAT score X of the sample of ..
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