Find an interval that estimates travel expense


Suppose that a large international corporation wished to obtain its own "benchmark" for one-day travel expenses in Moscow. To do this, it records the one-day travel expenses for a random sample of 35 executives visiting Moscow. The mean and standard deviation of these expenses are calculated to be $538 and $41, respectively. Furthermore, a histogram shows that the expenses are approximately normally distributed. Find an interval that estimates 99.73 percent of all one-day travel expense to Moscow.

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Basic Statistics: Find an interval that estimates travel expense
Reference No:- TGS0104916

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