cent.) $ (b) Develop a 99 prediction interval for the total cost (in.pdf

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The document discusses developing a 99% prediction interval for the total cost in dollars for next month based on historical data of $7,700 being the upper limit. Managers should be concerned about costs reaching this upper limit of $7,700 for a single month as it would be an unusually high total cost.

Formation

cent.) $ (b) Develop a 99% prediction interval for the total cost (in dollars) for next month.
(Round your answers to the nearest cent.) $to$ the month? Discuss. Since $7,700 is the
prediction interval, managers should concerned about incurring such a high total cost for one
month.

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