In given problem, construct a 99% confidence interval for the difference between the average cost of repairing a broken leg and the average cost of repairing an injured knee. Interpret your results.
Problem
According to Money, the average cost of repairing a broken leg is $10,402, and the average cost of repairing a knee injury is $11,359.
Assume that these two statistics are sample averages based on two independent random samples of 200 people each and that the sample standard deviation for the cost of repairing a broken leg was $8,500 and for a knee injury it was $9,100. Conduct a test for equality of means using α = 0.05.