User Account

All Pages

In a recent sample of 84 used car sales costs

Assignment Help Applied Statistics
Reference no: EM13971788

7. Illowsky et al,pg 456; #112.

In a recent sample of 84 used car sales costs, the sample mean was $6,425 with a standard deviation of $3,156. Assume the underlying distribution is approximately normal.

a. Which distribution should you use for this problem? Explain your choice.

b. Define the random variable X-- in words.

c. Construct a 95% confidence interval for the population mean cost of a used car.

i. State the confidence interval.

ii. Sketch the graph.

iii. Calculate the error bound.

d. Explain what a "95% confidence interval" means for this study.

 

 

Reference no: EM13971788

Questions Cloud

Doctors measure the weights : 1. Doctors measure the weights (in pounds) of preterm babies. What type of data is collected? (Points : 1) Nominal Ordinal Interval Ratio 2. A sample of 80 juvenile salmon is grouped into the resulting frequency distribution based on their weights. W..
A manager of a small store wanted to discourage : A manager of a small store wanted to discourage shoplifters by putting signs around the store saying "Shoplifting is a crime!" However, he wanted to make sure this would not result in customers buying less. To test this, he displayed the signs every ..
Construct a trend projection equation : Construct a trend projection equation that describes the changes in the student's GPA over time using the table below.
What are the ethical issues surrounding whistle-blowers : Watch "You Decide: Whistle-Blowing" and answer the discussion question: What are the ethical issues surrounding whistle-blowers
In a recent sample of 84 used car sales costs : In a recent sample of 84 used car sales costs, the sample mean was $6,425 with a standard deviation of $3,156. Assume the underlying distribution is approximately normal. a. Which distribution should you use for this problem? Explain your choice.
Equivlent units for conversion cost : What were the equivlent units for conversion cost in the Light saber department for August.
Use the standard normal distribution : Use the standard Normal distribution to answer this question.  Identify the probability corresponding to a z-score of less than -1.33.
Does each individual have the same responsibilities explain : According to Boylan (2009), "It is inconsistent, on one hand, to accept the assistance of the community via schools, police, fire, roads....and, on the other hand, to deny to a reciprocal duty to give back to the community". What are some ways the..
Corporate debt term structure : Assume Boise Cascade debt has a duration of 5.0. If Treasury rates rise to 6.3% and 6.9%, respectively and there is a parallel shift in the corporate debt term structure,estimate:

Reviews

Write a Review

Applied Statistics Questions & Answers

  A local ice-cream store receives an average of 3 customers

A local ice-cream store receives an average of 3 customers per hour. Assume that the arrival events are well described by Poisson distribution. The cashier wants to leave the store to run an errand. The manager computes the expected time T between..

  Regression of the rate of inflation

Using the data on the growth rate of Money and inflation, run a regression of the rate of inflation on the rate of growth of the money supply

  All students in a class are divided into groups of 15

All students in a class are divided into groups of 15. One student is randomly chosen from the first group, the remaining observations are every 15th student thereafter.

  Hematologic data for patients with aplastic anemia

Hematologic data for patients with aplastic anemia

  Generate an array of ten random numbers

Generate an array of 10 random numbers between 0 and 1 using the rand function. Round-off the numbers in the array using the round function (The array should now have 0s and 1s). Display to the user in a fullsentence the number of 1s present in the a..

  Hypothesis testing as of last year only 20 of the employees

ltbrgtas of last year only 20 of the employees in an organization used public transportation to commute to and from

  Give the null and alternate hypotheses

A survey of people in Iowa showed that 40 out of 400 prefer watching TV comedy shows. Another survey in Colorado showed that 90 out of 600 prefer watching TV comedy shows. At a 1% significance level, would it seem that the true proportions of p..

  Estimate of the population slope and interpret its meaning

Construct a scatter plot, using sales as the dependent variable and median family income as the independent variable. Discuss the scatter plot.

  Use following sas program to prepare the sas data set

If we prepare a data set for exercise #9 of chapter 14 (question 3 of this homework), we can use SAS to answer all the questions in parts a), b), c) and d) of this exercise. The sample size (n) for this exercise was 45 and of these 45 third-graders 4..

  Find the correlation between anca and the clinical

find the correlation between anca and the clinical manifestations k l c gi msk n ent s. nbspwe want to find out which

  Assuming the presentations are independent

A sales man normally closes on 80% of his presentations. Assuming the presentations are independent, find the probability of each of the following: a) he fails to close for the first time on his fifth attempt, b) he closes his presentation on his fou..

  Creating a frequency distribution

Individual data values or grouped data when creating a frequency distribution?

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