Author Question: You are interested in purchasing a new car. One of the many points you wish to consider is the ... (Read 56 times)

mynx · **on:** Feb 14, 2020

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/

)

batool · **Reply #1 on:** Feb 14, 2020

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