Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A manager records the repair cost for 14 randomly selected dryers. A sample mean of $88.34 and standard deviation of $19.22 are subsequently computed. Determine

A manager records the repair cost for 14 randomly selected dryers. A sample mean of $88.34 and standard deviation of $19.22 are subsequently computed. Determine the 90% confidence interval for the mean repair cost for the dryers. Determine the population is approximately normal.

Step 1 of 2: Find the critical value that should be used in construction the confidence interval. Round your answer to three decimal places.

step 2 of 2: Construct the 90 % confidence interval. Round your answer to two decimal places. Lower endpoint: Upper endpoint:

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management Accounting Information for Decision-Making and Strategy Execution

Authors: Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura, S. Mark Young

6th Edition

137024975, 978-0137024971

Students also viewed these Mathematics questions