The mean cost to repair the smoke and fire damage that results from home fires of all
Question:
The mean cost to repair the smoke and fire damage that results from home fires of all causes is $11,389 (HomeAdvisor website, December 2014). How does the damage that results from home fires caused by careless use of tobacco compare? The Data file named
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 s = $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?
Step by Step Answer:
Statistics For Business & Economics
ISBN: 9781305585317
13th Edition
Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran