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3 Your company selfinsures its eet of cars against collisions. You need to estimate the mean repair costs per accident so 4 that you can set aside enough money to cover these costs. The data for repair cost in 30 accidents is shown below. 5 6 1,910 1,920 1,640 1,540 1,800 2080 7 1,580 1,660 1,840 1,850 1,410 2140 8 1,970 1,510 2,030 1,590 1,540 2060 9 1,070 1,530 1,760 1,410 1,850 1410 0 1,800 1,540 1,830 2,090 1,570 1910 1 2 19 The point estimate of the mean repair cost is, 3 a $1,660 4 b $1,693 5 c $1,728 6 d $1,763 7 8 20 The standard deviation of the sample data is, 9 a $238.32 ' 0 b $243.18 ' 1 c $248.95 ' 2 d $253.21 ' 3 . 4 21 The margin of error for an interval estimate with 95% level of condence is, ' 5 a $89.82 . 6 b $94.55 . 7 c $99.52 . 8 d $ 104.76 . 9 50 22 To obtain a margin of error of $50 with a 95% level of condence,what is the minimum number of repair costs to 51 be included in the sample? Use $250 for the planningvalue. 52 a 145 53 b 110 54 c 97 55 d 74