User Account

All Pages

Confidence interval for the true mean time

Assignment Help Basic Statistics
Reference no: EM131747836

Question: Marketing and Consumer Behavior According to a recent survey, Americans are keeping their cars longer. Some of the reasons may include the poor economy and better-built vehicles. A random sample of new- and used-car owners was asked how long they usually kept their car (in months).

a. Find a 99% confidence interval for the true mean time people keep a new car.

b. Find a 99% confidence interval for the true mean time people keep a used car.

c. Using your answers in parts (a) and (b), do you think new-car owners and used-car owners keep their cars for different lengths of times? Justify your answer.

Reference no: EM131747836

Questions Cloud

What political and economic challenges does uber face : What political and economic challenges does Uber face? Provide specific recommendations for the company to respond to these challenges.
Practice and framework of integrated marketing communication : Describe the practice and framework of integrated marketing communication.
Determine the fair value of the debentures at time of issue : ACC204 Advanced Financial Accounting Assignment. Determine the fair value of the debentures at the time of issue (which will also be their issue price)
Ethical health care system : What do you consider to be an “ethical” health care system?
Confidence interval for the true mean time : Marketing and Consumer Behavior According to a recent survey, Americans are keeping their cars longer. Some of the reasons may include the poor economy.
Determine the inventory turnover : Determine the inventory turnover, The following financial statement data for years ending December
Perform some preliminary investigation into mnc you chose : For your second assignment, you are to perform some preliminary investigation into the MNC you chose by performing a brief survey and creating a portfolio.
Would you continue to receive the care or reject it : What would you do if you were receiving care from a physician and some part of the care went against your ethical or religious beliefs?
Create a presentation on the multinational corporation : For your final submission, you are to create a presentation on the Multinational Corporation you have been following throughout this course (Walmart).

Reviews

Write a Review

Basic Statistics Questions & Answers

  Expected value for this random variable

Suppose you have a random variable that is uniformly distributed between 3 and 27.  What is the expected value for this random variable? Answer to one decimal place if necessary.

  Scientists have predicted that an increase in sea level is

Scientists have predicted that an increase in sea level is one of the likely consequences of climate change associated with the enhanced greenhouse effect

  Find the probability that among the ten patients

A doctor knows from experience that 20% of the patients to whom he gives a high blood pressure drug will have undesirable side effects. Assume the doctor gives that drug to ten of his patients

  Construct a contingency table of counts

Construct a contingency table of counts for the relationship between the SalEst test result and the time of delivery.

  Discuss type i and type ii errors and their critical role

These problems related to Basic Statistics and discuss about type I and type II errors and their critical role in statistical tests

  Assigned feasible potentials

Let G be a directed graph where c_e is the cost of arc e. If the nodes of G can be assigned feasible potentials then G has no negative dicycle.

  A 6 × 8 array containing the ages of moviegoers

A 6 × 8 array containing the ages of moviegoers

  Addition thermo on probability

Addition Thermo on Probability - If a man is randomly selected for an interview, what is the chance he will Play football or basketball?

  Write out the probability transition matrix

If Taco Bell costs $3 and a home lunch costs $1 and the Springdale room is free, then how much lunch budget should he allow for his semester, which includes 100 lunches?

  Determine the critical regions for test

Determine the critical regions for test in terms of the sample mean, what is the probability of a type II error for this test if the true mean is in fact 195 mg and what impact would reducing the sample size have on the type I and type II errors?

  At a local middle school 60 of students are enrolled in

at a local middle school 60 of students are enrolled in choir or band. if a random sample of 5 students is taken what

  Problem regarding the proportion of samples

A population of disk drives manufactured by a certain company runs with mean seek time of 10 milliseconds with standard deviation of 0.1 milliseconds. What proportion of samples of size 250 would you expect to result in a mean less than 9 millisec..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd