The following data show the actual number of miles driven for 50 vehicles at the time of transmission failure.
1.) Use appropriate descriptive statistics to summarize the transmission failure data.
2) Develop a 95% confidence interval for the mean number of miles driven until transmission failure for the population of automobiles with transmission failure. Provide a managerial interpretation of the interval estimate.
3) Discuss the implication of your statistical finding in terms of the belief that some owners of the automobiles experienced early transmission failures.
4) How many repair records should be sampled if the research firm wants the population men’s number of miles drive until, the transmission failure to be estimated with a margin of error of 5,000 miles? Use 95% confidence.
5) What other information would you like to gather to evaluate the transmission failure problem more fully