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Author Question: You are interested in purchasing a new car. One of the many points you wish to consider is the ... (Read 97 times)

mynx

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Question 1

How much money does the average professional football fan spend on food at a single football game?  That question was posed to ten randomly selected football fans.  The sampled results show that the sample mean and sample standard deviation were $70.00 and $17.50, respectively.  Use this information to create a 95 percent confidence interval for the population mean.
◦ 70 ± 2.228
◦ 70 ± 2.262
◦ 70 ± 1.833
◦ 70 ± 1.960

Question 2

You are interested in purchasing a new car. One of the many points you wish to consider is the resale value of the car after 5 years. Since you are particularly interested in a certain foreign sedan, you decide to estimate the resale value of this car with a 95% confidence interval. You manage to obtain data on 17 recently resold 5-year-old foreign sedans of the same model. These 17 cars were resold at an average price of $12,610 with a standard deviation of $700. What is the 95% confidence interval for the true mean resale value of a 5- year-old car of this model?
◦ 12,610 ± 2.120(700/)
◦ 12,610 ± 2.110(700/)
◦ 12,610 ± 2.120(700/)
◦ 12,610 ± 1.960(700/)


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Marked as best answer by mynx on Feb 14, 2020

batool

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mynx

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Reply 2 on: Feb 14, 2020
Wow, this really help


lcapri7

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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