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    Sample confidence interval for a population mean with margin of error

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    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.

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    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.