The data shown below represent the repair cost for a low-impact collision in a simple random sample of mini- and micro-vehicles. Complete parts (a) through (d) below. $3148 $1075 $743 $663 $773 $1758 $3345 $2015 $2678 $1386 (c) Construct and interpret a 95% confidence interval for population mean cost of repair. Select the correct choice and fill in the answer boxes to complete your choice. (Round to one decimal place as needed.) A. The lower bound is $ and the upper bound is $. We are 95% confident that the mean cost of repair is outside of the confidence interval. B. The lower bound is $ and the upper bound is $. We are 95% confident that the mean cost of repair is within the confidence interval.
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Sample data: 53148, 51075, 5743, 5663, 51758, 53345, 52015, 52678 Mean (x̄) = (53148 + 51075 + 5743 + 5663 + 51758 + 53345 + 52015 + 52678) / 8 = 37615.5 Now, let's find the standard deviation (s): s = sqrt(Σ(xi - x̄)^2 / (n - 1)) s = sqrt(((53148 - Show more…
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