Question

A new Lamborghini has a base price of $467,617 (radio extra!). The crash test dummies want to estimate the frontend damage if one of these beauties is slammed into a brick wall at 35 rnph. They only have n = 4 cars to use. From this random sample, they have a sample mean of I-= $12,777 with sample st devofs=$789. i) Find a 95% Confidence Interval (CD for p. ii) interpret your interval. iii) Is p in this CI? Why or why not? Explain.

Answer 1