Question

Managers of an industrial plant want to determine which of two types of fuel, gas or electric, is more cost efficient (measured in cost per unit of energy). Independent random samples were taken of plants using electricity and plants using gas. These samples consisted of 15 plants using electricity, which had a mean cost per unit of $61.7 and standard deviation of $7.87, and 10 plants using gas, which had a mean of S51.4 and standard deviation of $8.55. Assume that the populations of costs per unit are normally_distributed for each type of fuel, and assume that the variances of these populations are equal. Construct a 95% confidenceinterval for the difference μ-μ 2 between the mean cost per unit for plants using electricity, μι, and the mean cost per unit for plants using gas, u2. Then complete the table below Carry your intermediate computations to at least three decimal places. Round your responses to at least two decimal places. (If necessary, consult a list of formulas.) what is the lower limit of the 95% confidence interval? what is the upper limit of the 95% confidence interval?

Answer 1