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What is the confidence interval estimate of the mean cost

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Reference no: EM132650850

Cost to Repair Fire Damage.

Question 1: The mean cost to repair the smoke and fire damage that results from home fires of all causes is $11,389 (HomeAdvisor). How does the damage that results from home fires caused by careless use of tobacco compare?

Question 2: The file Tobacco Fires provides the cost to repair smoke and fire damage associated with a sample of 55 fires caused by careless use of tobacco products. Using past years' data, the population standard deviation can be assumed known with = $3027. What is the 95% confidence interval estimate of the mean cost to repair smoke and fire damage that results from home fires caused by careless use of tobacco? How does this compare with the mean cost to repair the smoke and fire damage that results from home fires of all causes?

Reference no: EM132650850

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