What is the margin of error for 95% confidence
QUESTION
The Wall Street Journal reported that automobile crashes cost United States $162 billion annually(The Wall Street Journal, March 5, 2008). The average cost per person for crashes in the Tampa, Florida, area was reported to be $1,599. This average cost was based on a sample of 50 persons who had be involved in car crashes with a population standard deviation of $600.1. What is the margin of error for 95% confidence intervals?2. What are the confidence intervals? So what..?3. What would you recommend if the study required a margin of error of $150 or less? Explain
ANSWER:
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