Monday

January 26, 2015

January 26, 2015

Posted by **Bob** on Monday, November 30, 2009 at 10:33pm.

(a) Are sufficient funds available to estimate the mean stopping distance to within 2 feet of the true mean stopping distance with 95% confidence? Explain your answer.

(b) A regulatory agency requires a 95% level of confidence for an estimate of mean stopping distance that is within 2 feet of the true mean stopping distance. The car manufacturer cannot exceed the budget of $12,000 for the study. Discuss the consequences of these constraints.

- Statistics -
**Margaret**, Sunday, March 21, 2010 at 1:29pma) there are not sufficient funds. THe required sample size is 139 cars, and if each car will cost $100, then the total cost for estimating the mean stopping distance to within 2 feet of the true mean is $139,000, which is more than the budget will allow.

b) $12,000 is not enough money to be within 2 feet of the true mean with 95% confidence. $12,000 only allows for 120 cars to be tested, and 139 are required. Given these constraints, the consequences are that the company will not be 95% confident on the mean stopping distance for their brakes, which could lead to car accidents and possible lawsuits.

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