Question

A manager records the repair cost for 6 randomly selected TVs. A sample mean of $67.87 and standard deviation of $28.03 are subsequently computed. Determine the 95% confidence interval for the mean repair cost for the TVs. Assume the population is approximately normal.

a. Find the critical value that should be used in constructing the confidence interval. Round your answer to three decimal places.

Answer 1

To construct the 95% confidence interval for the mean repair cost for the TVs, we need to find the critical value. For a 95% confidence level and 5 degrees of freedom (n-1), the critical value is approximately 2.571.

Step-by-step explanation:

To determine the 95% confidence interval for the mean repair cost for the TVs, we need to first find the critical value.

Since the sample size is 6, we will use a t-distribution to find the critical value.

The critical value can be found using a t-table or a calculator. For a 95% confidence level and 5 degrees of freedom (n-1), the critical value is approximately 2.571.