Question 8.155

deepwaterclean

58. Deepwater Horizon Cleanup Costs. The Excel output shows the amount of money disbursed by BP to a random sample of six Florida counties for cleanup of the Deepwater Horizon oil spill, in millions of dollars.13 The functions used to provide the confidence interval are similar to those in Exercise 57. The normal probability plot is also given.

image
image
  1. Check the normality assumption.
  2. Use the Excel output to report and interpret a 95% confidence interval for the population mean cleanup cost.
  3. Use the Excel output to report and interpret the margin of error for the confidence interval in part (b).
  4. Explain two ways we could decrease the margin of error. Which method is preferable, and why?