Question
The Wall Street Journal reported that automobile crashes cost the United States $162 billion annually ( The Wall Street Journal , March 5, 2008). The
The Wall Street Journal reported that automobile crashes cost the United States $162 billion annually (The Wall Street Journal, March 5, 2008). The average cost per person for crashes in the Tampa, Florida, area was reported to be $1599. Suppose this average cost was based on a sample of 50 persons who had been involved in car crashes and that the population standard deviation is = $600.
What is the margin of error for a 95% confidence interval (to 2 decimals)? _________________
What would you recommend if the study required a margin of error of $150 or less?
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Elementary Statisitcs
Authors: Barry Monk
2nd edition
1259345297, 978-0077836351, 77836359, 978-1259295911, 1259295915, 978-1259292484, 1259292487, 978-1259345296
