Estimates the average age of cars sold for the first time

Assignment Help Business Economics

Reference no: EM13800500

AutoTrader.com would like to estimate the number of years owners keep the cars that they purchased as a new vehicle. The following data shows the age of seven vehicles that were sold for the first time by their owners.

9 3 5 1 8 5 3

Using this sample, the 90% confidence interval that estimates the average age of cars sold for the first time is

(3.24, 6.48)

(3.78, 5.94)

(4.32, 5.40)

(2.76, 6.96)

Reference no: EM13800500

Questions Cloud

Devastating hurricane hits the economy destroying : Suppose that the US in a steady state and that capital per worker in the US is equal to k*=10. The following picture shows the steady state of the US economy.Suppose a devastating hurricane hits the economy destroying 10 % of the capital stock so tha..

Club to engage in third-degree price discrimination : A private golf club has two types of members. Serious golfers each have an individual demand curve given by = 35 ? .1??, while casual golfers each have an individual demand curve given by ?? = 10 ? .2??. Here, P is the price per round of golf and Q i..

Government imposed a price ceiling on a monopolist : Suppose the government imposed a price ceiling on a monopolist. Let denote the price ceiling, and suppose the monopolist incurs no costs in producing output. True or false: If the demand curve faced by the monopolist is elastic at the price, then the..

Determine the critical z-score for the normal distribution : The degrees of freedom are used to determine the critical z-score for the normal distribution when calculating a confidence interval. The alternative hypothesis, denoted by H1, represents the opposite of the null hypothesis and is believed to be true..

Estimates the average age of cars sold for the first time : AutoTrader.com would like to estimate the number of years owners keep the cars that they purchased as a new vehicle. The following data shows the age of seven vehicles that were sold for the first time by their owners. Using this sample, the 90% conf..

Examples of economic indicators : Which of the following are examples of economic indicators? check all that apply. Which of the following statements regarding procyclical, countercyclical and leading economic indicators is corrects? check all that apply

Compare and contrast two events motivated by incentives : Compare and contrast two events motivated by incentives, one where the self-interested behavior was good for society and the other where it was bad.

Order to finance a government-sponsored health plan : These graphs describe the competitive dynamic model. Suppose that, in order to finance a government- sponsored health plan, the government needs to increase spending by 10%. The government plans to finance the higher spending with an increase in taxe..

Describe the competitive dynamic model : Suppose that, in order to finance a government- sponsored health plan, the government needs to increase spending by 10%. The government plans to finance the higher spending with an increase in taxes. As a consequence of this government policy, the ag..

User Account

All Pages