In problem 8-48, construct a 99% confidence interval for the difference between the average cost of repairing
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In problem 8-48, construct a 99% confidence interval for the difference between the average cost of repairing a broken leg and the average cost of repairing an injured knee. Interpret your results.
In problem According to Money, the average cost of repairing a broken leg is $10,402, and the average cost of repairing a knee injury is $11,359.12 Assume that these two statistics are sample averages based on two independent random samples of 200 people each and that the sample standard deviation for the cost of repairing a broken leg was $8,500 and for a knee injury it was $9,100. Conduct a test for equality of means using α = 0.05.
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Related Book For
Complete Business Statistics
ISBN: 9780077239695
7th Edition
Authors: Amir Aczel, Jayavel Sounderpandian
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