Question: Can you please advise how this would be completed using Excel formulas: The Wall Street Journal reported that automobile crashes cost the United States $162
Can you please advise how this would be completed using Excel formulas:
The Wall Street Journal reported that automobile crashes cost the United States $162 billion annually. The average cost per person for crashes in the Tampa, Florida, area was reported to be $1900. 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 known to be $500. What is the 90% confidence interval of the average cost per person for crashes in Tampa? What would you recommend if the study required a margin of error of $150 or less?
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
