Original Problem: A researcher records the repair cost for 51 randomly selected dryers. A sample mean of $50.38 and sample standard deviation of $24.88 are subsequently computed. Determine the 99%...





Original Problem: A researcher records the repair cost for 51 randomly selected dryers. A sample mean of $50.38 and sample standard deviation of $24.88 are subsequently computed. Determine the 99% confidence interval for the mean repair cost for the dryers. Assume the population is normally distributed.


(a)  In the Original Problem, if I change confidence level to 80% instead of 99%, keep- ing all other factors the same, the length of the Confidence Interval or MarginError in the Original Problem increases or decreases, remains the same?


(b)  In the Original Problem, if I change n to 30 instead of 51, keeping all other factors the same, the length of the Confidence Interval or MarginError in the Original Problem increases or decreases or remains the same?






Jun 03, 2022
SOLUTION.PDF

Get Answer To This Question

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here