Reasonable asking price for the escape

Assignment Help Basic Statistics
Reference no: EM1393374

A car owner is interested in selling his 2005 Ford Escape with an odometer reading of 102,000 km. Going to the autotrader.ca webcite, he observes that there are 16 Ford Escapes manufactured from 2004 to 2006, with 80,000 to 125,000 km. The asking prices for these cars are:

$11850,$13888,$13900,$13988,$13990,$13995,$14500,$14995,$15850,$15988,$15995,$16987,$15988,$16995, $16995.

All of these cars are for sale by dealers. Produce a dotplot of the prices and comment on features of the dotplot. Suggest a reasonable asking price for the 2005 Escape. Explain your reasoning.

Reference no: EM1393374

Questions Cloud

Statistical description of random telephone numbers : Using the telephone numbers listed in your local directory as your population, randomly obtain 20 samples of size 3. From each telephone number identified as a source, take the fourth, fifth, and sixth digits.
Describe how you would manage conflicts : Describe how you would manage conflicts that arise when one seeks to develop and implement
Find reasons for the variance : If all students start with the same amount of 10,000 x g supernatant, and after different groups of students have done their 40-65 percent ammonium sulfate cut.
Probability distribution of investments : An investment broker reports that the yearly returns on common stocks are approximately normally distributed with a mean return of 12.4 percent and a standard deviation of 20.6 percent.
Reasonable asking price for the escape : All of these cars are for sale by dealers. Produce a dotplot of the prices and comment on features of the dotplot. Suggest a reasonable asking price for the 2005 Escape. Explain your reasoning.
Construct the budget constraint for a consumer : Does Will's frequent buyer program have the same effect on the consumption of its bagels that would occur if it simply lowered the price of one dozen bagels by 3%? Explain.
How does the concept of product life cycle apply to regal : How does the concept of product life cycle apply to Regal Marine products? Global firms like Regal Marine know that the basis for an organization's existence is the good or service it provides society. Great products are the keys to success
Conditional probability formula and contingency tables : In large accounting firm, the proportion of accountants with MBA degrees and at least five years of professional experience is 0.75 times the proportion of accountants with no MBA degree and less than 5 years of professional experience.
Explain non-negativity constraints : Explain Non-negativity constraints - restrict the decision variables to zero. restrict the decision variables to positive values

Reviews

Write a Review

Basic Statistics Questions & Answers

  Statistics-probability assignment

MATH1550H: Assignment:  Question:  A word is selected at random from the following poem of Persian poet and mathematician Omar Khayyam (1048-1131), translated by English poet Edward Fitzgerald (1808-1883). Find the expected value of the length of th..

  What is the least number

MATH1550H: Assignment:  Question:     what is the least number of applicants that should be interviewed so as to have at least 50% chance of finding one such secretary?

  Determine the value of k

MATH1550H: Assignment:  Question:     Experience shows that X, the number of customers entering a post office during any period of time t, is a random variable the probability mass function of which is of the form

  What is the probability

MATH1550H: Assignment:Questions: (Genetics) What is the probability that at most two of the offspring are aa?

  Binomial distributions

MATH1550H: Assignment:  Questions:  Let’s assume the department of Mathematics of Trent University has 11 faculty members. For i = 0; 1; 2; 3; find pi, the probability that i of them were born on Canada Day using the binomial distributions.

  Caselet on mcdonald’s vs. burger king - waiting time

Caselet on McDonald’s vs. Burger King - Waiting time

  Generate descriptive statistics

Generate descriptive statistics. Create a stem-and-leaf plot of the data and box plot of the data.

  Sampling variability and standard error

Problems on Sampling Variability and Standard Error and Confidence Intervals

  Estimate the population mean

Estimate the population mean

  Conduct a marketing experiment

Conduct a marketing experiment in which students are to taste one of two different brands of soft drink

  Find out the probability

Find out the probability

  Linear programming models

LINEAR PROGRAMMING MODELS

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