Estimate for the estimated mean mpg mileage

Assignment Help Econometrics
Reference no: EM13185591

The EPA tests vehicles for gasoline mileage under stringent testing conditions. The testing for a particular make and model of mid-sized SUV involved 35 vehicles submitted by the manufacturer. Assume the vehicles submitted for testing constitute a random sample from the population.

Data:

24.7
27.0
26.2
26.8
26.2
25.5
25.8
27.5
27.0
27.6
27.3
26.9
25.0
26.4
26.9
27.3
26.1
26.1
26.2
25.9
26.3
27.0
26.3
26.1
24.6
26.9
26.5
25.7
25.8
26.0
28.5
26.4
25.8
26.4
28.0

Construct a 99% confidence interval estimate for the estimated mean MPG mileage for the vehicle tested.

Make a statement to interpret the results.

Reference no: EM13185591

Questions Cloud

Calculate the future value of an annuity : calculate the future value of an annuity with $500 payment per month invested at 5% compounded monthly after 12 years.
Is itimportant for people to study logic : Imagine someone asks you what you have learned in your logic class and what you found to be the most useful information you learned there. Is it important for people to study logic?
Define the term linear inequality : define the term linear inequality, then explain what it means to solve a linear inequality. Explain how the solution to the inequality 2x-5
What z-score corresponds to this value : A small business has an average income of $3,000.00 per month with a standard deviation of $250.00. If the income in a given month is $3,300.00, what z-score corresponds to this value?
Estimate for the estimated mean mpg mileage : The EPA tests vehicles for gasoline mileage under stringent testing conditions. The testing for a particular make and model of mid-sized SUV involved 35 vehicles submitted by the manufacturer. Assume the vehicles submitted for testing constitute a..
What is the largest number of floors that building : An apartment building has seven elevators. Each elevator stops on at most six floors. You can get to any one flooor from any other floor without changing elevators (if you take the right elevator). What is the largest number of floors that buildin..
Explain the occupational safety and health administration : The Occupational Safety and Health Administration has set the limit on the maximum percentage of carbon dioxide (CO2) in air a worker can breathe at 0.500% by mole
Estimates the distance d : The formula d = sqrt15h, where h equals the height, in feet, of the viewer's eyes, estimates the distance d, in miles, to the horizon from the viewer. Find the distance to the horizon for a person who eyes are 6 ft above the ground.
Construct three different arguments that distinct fallacies : Construct three different arguments that display distinct fallacies. Give an explanation of why each makes a mistake in drawing the conclusion it does. Review your classmates' examples and see if they, in fact, commit the fallacy identified.

Reviews

Write a Review

Econometrics Questions & Answers

  Find gross value added

Import Duty-1000  Excise Duty-1000 Outpout sold- 5000 Price per unit of output- 6 Change in stock-600 Intermediate Cost- 16,000 Subsidy-500

  What is the marginal cost per bushel of apples

how many bushels of apples should the farmer produce? If the government imposes a tax on the sellers which results in the sellers receiving $1 less per bushel sold, what amount of apples should the farmer choose to produce?

  Calculate the elasticity of demand for burrito meals

Calculate the elasticity of demand for burrito meals with respect to the price of burritos, the price of tacos, and per capita income.

  Calculate net exports

a. Calculate net exports. b. Use the expenditure approach to calculate GDP. c. Use the income approach to calculate GDP. d. Calculate net domestic product (at factor cost). e. Calculate net domestic income (at market price..

  Explain who has the same preferences as jim

Jim's utility function is U(x, y) = xy. Jerry's utility function is U(x, y) = 1,000xy + 2,000. Tammy's utility function is U(x, y) = xy(1 - xy). Oral's utility function is U(x,y)= -1/(10+2xy).Marjoe's utility function is U(x, y) = x(y + 1,000). Pa..

  Kuznets hypothesized in economic development

In the name of Simon Kuznets is the concept that the relationship in GDP and inequality is nonlinear. Kuznets hypothesized three phases in economic development.

  How much profit will the monopolist make

Suppose a monopolist faces the following demand curve: P = 596 - 6Q. Marginal cost of production is constant and equal to $20, and there are no fixed costs. a) What is the monopolist's profit-maximizing level of output? MR = (P-MC)*Q MR = (596 - 6Q -..

  What is the irr-maximizing investment choice of c0

you can invest in a project with returns that depend on the amount of your investment. Specifically, the formula relating next year's payoff to your investment today is C1=(-C0 -0.1)^(1/2), c1 c2 are in million dollars.

  Calculate the price elasticity of demand for a product

Assume that you raise the price of a product you have in inventory from $600 to $1,000. After the price increase you notice that your sales of this product have gone from 300 per month to 100 per month. 1. Calculate the price elasticity of demand f..

  Interpret the regression equation

State carefully the ceteris paribus assumption in this case. Do you think this simple regression of Y on X satisfies that assumption? Why or why not?

  What is unemplotment rate if labor market is competitivie

In a paticular industry labor supply is Es=10+w and labor demand is Ep=70-3w where E is the level of employment and w is the hourly wage. A. what is the quilibrium wage and employment if the labor market is competitivie? What is the unemplotment rat..

  Compute the elasticity variable

Compute the elasticity for each variable and briefly comment on what that data gives you in each case.

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!

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