Su SS You work in the leasing office of GE capital and wish to predict the average mileage driven of your leased cars within a margin of error of 100 miles (you need this for your company's financial disclosures). Suppose your average customer drives 10,000 miles a year, and your guess for the standard deviation is about 750 miles. How big of a sample size do you need to generate a 80% confidence interval with a mean of 10,000 miles a year with a margin of error of 100 miles. St Su

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.5: Comparing Sets Of Data
Problem 13PPS
Question
Su
SS
You work in the leasing office of GE capital and wish to
predict the average mileage driven of your leased cars
within a margin of error of 100 miles (you need this for
your company's financial disclosures). Suppose your
average customer drives 10,000 miles a year, and your
guess for the standard deviation is about 750 miles.
How big of a sample size do you need to generate a
80% confidence interval with a mean of 10,000 miles a
year with a margin of error of 100 miles.
St
Su
Transcribed Image Text:Su SS You work in the leasing office of GE capital and wish to predict the average mileage driven of your leased cars within a margin of error of 100 miles (you need this for your company's financial disclosures). Suppose your average customer drives 10,000 miles a year, and your guess for the standard deviation is about 750 miles. How big of a sample size do you need to generate a 80% confidence interval with a mean of 10,000 miles a year with a margin of error of 100 miles. St Su
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