Attempts Average: 2 4. Exercise 08.07 Algorithmic eBook The Wal Street Journal r

Question

Attempts Average: 2 4. Exercise 08.07 Algorithmic eBook The Wal 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 42 persons who had been involved in car crashes and that the population standard deviation is -S550. What is the margin of error for a 95% confidence interval? Round your answer to two decimal places. What would you recommend if the study required a margin of error of $150 or less? The input in the box below will not be graded, but may be reviewed and considered by your instructor Grade It Now Continue without saving Copyright NoticesTerms of Use Privacy Notice Security Notice Accessibility

Explanation / Answer

a)
margin of error = z * sd/sqrt(n)
= 1.96 * 550 / sqrt(42)
= 166.33901

b)
since margin of error = 166.339 > 150
hence
we would not recommend

Please rate

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.