SOLUTION: 10. In a random sample of five microwave ovens, the mean repair cost was $70.00 and the standard deviation was $12.50. Assume the variable is normally distributed and use a t-distr

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Question 872468: 10. In a random sample of five microwave ovens, the mean repair cost was $70.00 and the standard deviation was $12.50. Assume the variable is normally distributed and use a t-distribution to construct a 90% confidence interval for the population mean μ. What is the margin of error of μ?
Answer by ewatrrr(24785) About Me  (Show Source):
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Hi

In a random sample of five microwave ovens, 

the mean repair cost was $70.00 and the standard deviation was $12.50. 

ME(90% Confidence Interval, df 4) = 2.132($12.50/sqrt(5)) = $11.92

CI: $70-ME < u <  $70+ ME