Sample confidence interval for a population mean with margin of error
Not what you're looking for?
Please see attachment for the data to be used when answering these questions.
a. Develop a 95% confidence interval for the mean number of miles driven until transmission failure for the population of automobiles with transmission failure. Provide a managerial interpretation of the interval estimate.
b. Discuss the implication of your statistical findings in terms of the belief that some owners of the automobiles experienced early transmission failures.
c. How may repair records should be sampled if the research firm wants the population mean umber of miles drive until transmission failure to be estimated with a margin of error of 5000 miles? Use 95% confidence.
Purchase this Solution
Solution Summary
This solution explains how to calculate a 95% confidence interval for a given set of data, interprets the meaning of the statistical findings within the context of the problem, and determines an appropriate sample size that is required to obtain the desired margin of error for the 95% confidence interval.
Purchase this Solution
Free BrainMass Quizzes
Measures of Central Tendency
Tests knowledge of the three main measures of central tendency, including some simple calculation questions.
Know Your Statistical Concepts
Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.
Measures of Central Tendency
This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.
Terms and Definitions for Statistics
This quiz covers basic terms and definitions of statistics.