UCSB PSTAT 109 Statistics for Economics Question-Quiz 9

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Problem 1

 

 

 

 Because of the expense involved, car crash tests often use small samples. When

 

_ve BMW cars are crashed under standard conditions, the average repair costs (in dollars) is $1159.40 with a standard deviation of $284.73. Assuming BMW repair costs are approx- imately normally distributed, use a 0.05 significance level to test the validity of the claim that the mean repair costs for all BMW cars is less than $1000. Would BMW be justied in advertising that under the standard conditions, the repair costs are less than $1000?

 

 

 

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    UCSB PSTAT 109 Statistics for Economics Question-Quiz 9 Solution
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