7- Goodycar Tires claims that their new all-season tires are expected, on average, to last at least 50,000 miles. A random sample of 81 Goodyear tires was tested, and the results showed X = 48980 miles and s=5000 miles. (15%) a. Construct and interpret a 98% confidence interval for the true mean life of the new Goodyear tires. What is the margin of error ME (sampling error SE) of your confidence interval? b. Based on the interval, do you believe the average Goodyear tire lasts more than 50,100 miles? с. What is the desired sample size if you want to cut your ME (in part a) in half?

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7- Goodycar Tires claims that their new all-season tires are expected, on average, to last at least 50,000 miles. A
random sample of 81 Goodyear tires was tested, and the results showed X = 48980 miles and s=5000 miles. (15%)
a. Construct and interpret a 98% confidence interval for the true mean life of the new Goodyear tires. What is the
margin of error ME (sampling error SE) of your confidence interval?
b. Based on the interval, do you believe the average Goodyear tire lasts more than 50,100 miles?
c. What is the desired sample size if you want to cut your ME (in part a) in half?
d. Conduct a test of hypothesis for Goodyear's claim. Since a is not provided, you need to calculate the P-value and
use it for your decision and interpretation.
Transcribed Image Text:7- Goodycar Tires claims that their new all-season tires are expected, on average, to last at least 50,000 miles. A random sample of 81 Goodyear tires was tested, and the results showed X = 48980 miles and s=5000 miles. (15%) a. Construct and interpret a 98% confidence interval for the true mean life of the new Goodyear tires. What is the margin of error ME (sampling error SE) of your confidence interval? b. Based on the interval, do you believe the average Goodyear tire lasts more than 50,100 miles? c. What is the desired sample size if you want to cut your ME (in part a) in half? d. Conduct a test of hypothesis for Goodyear's claim. Since a is not provided, you need to calculate the P-value and use it for your decision and interpretation.
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