Asupervisor records the repair cost for 25 randomly selected dryers. a sample mean of $93.36 and standard deviation of $19.95 are subsequently computed. determine the 98% confidence interval for the mean repair cost for the dryers. assume the population is approximately normal.

Step-by-step explanation:

Our aim is to determine a 98% confidence interval for the mean repair cost for the dryers

Number of samples. n = 25

Mean, u = $93.36

Standard deviation, s = $19.95

For a confidence level of 98%, the corresponding z value is 2.33. This is determined from the normal distribution table.

We will apply the formula,

Confidence interval

= mean ± z × standard deviation/√n

It becomes

93.36 ± 2.33 × 19.95/√25

= 93.36 ± 2.33 × 3.99

= 93.36 ± 9.2967

The lower boundary of the confidence interval is 93.36 - 9.2967 =84.0633

The upper boundary of the confidence interval is 93.36 + 9.2967 = 102.6567

Therefore, with 98% confidence interval, the mean repair costs for the dryers is between $84.0633 and $102.6567

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step-by-step explanation:

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