Question

In: Statistics and Probability

A small dealership leased 21 Suburu Outbacks on 2-year leases. When the cars were returned at...

A small dealership leased 21 Suburu Outbacks on 2-year leases. When the cars were returned at the end of the lease, the mileage was recorded (see below).

40,003 24,939 14,329 17,380 44,741 44,554 20,229
33,370 24,220 41,702 58,328 35,831 25,790 28,983
25,066 43,357 23,993 43,557 53,670 31,811 36,709

Solutions

Expert Solution

mean :

mean = 220854/7 = 31550.5714

standard deviation :


Related Solutions

In 2016, a small dealership leased 21 Subaru Outbacks on 2-year leases. When the cars were...
In 2016, a small dealership leased 21 Subaru Outbacks on 2-year leases. When the cars were returned in 2018, the mileage was recorded (see below).   40,060 24,960 14,310 17,370 44,740 44,550 20,250 33,380 24,270 41,740 58,630 35,830 25,750 28,910 25,090 43,380 23,940 43,510 53,680 31,810 36,780 a.       Using the 10 percent level of significance, is the dealer's mean significantly greater than the national average of 30,000 miles for 2-year leased vehicles? Follow and show the 7 steps for hypothesis testing....
In 2008, a small dealership leased 21 Subaru Outbacks on 2-year leases. When the cars were...
In 2008, a small dealership leased 21 Subaru Outbacks on 2-year leases. When the cars were returned in 2010, the mileage was recorded (see below). 40,003 24,939 14,329 17,380 44,741 44,554 20,229 33,370 24,220 41,702 58,328 35,831 25,790 28,983 25,066 43,357 23,993 43,557 53,670 31,811 36,709 (a) Is the dealer's mean significantly greater than the national average of 30,162 miles for 2-year leases? Using the 10 percent level of significance, choose the appropriate hypothesis. a. H0: μ ≤ 30,162 miles...
In 2008, a small dealership leased 21 Subaru Outbacks on 2-year leases. When the cars were...
In 2008, a small dealership leased 21 Subaru Outbacks on 2-year leases. When the cars were returned in 2010, the mileage was recorded (see below). 40,003 24,939 14,329 17,380 44,741 44,554 20,229 33,370 24,220 41,702 58,328 35,831 25,790 28,983 25,066 43,357 23,993 43,557 53,670 31,811 36,709 (a) Is the dealer's mean significantly greater than the national average of 30,162 miles for 2-year leases? Using the 10 percent level of significance, choose the appropriate hypothesis. a. H0: μ ≤ 30,162 miles...
A small car dealership keeps a log of how many cars it sells. During the last...
A small car dealership keeps a log of how many cars it sells. During the last 7 months, they sold a total of 140 cars. They also monitor accuracy of their forecasting model by calculating the tracking signal. Following is the data for the last 7 months. They use +5 and -5 as their tracking signal UCL and LCL. How is the model performing? Month Tracking Signal 1 -1.0 2 -1.5 3 -2.0 4 -2.0 5 -3.5 6 -5.8 7...
You randomly select 36 cars of the same model that were sold at a car dealership...
You randomly select 36 cars of the same model that were sold at a car dealership and determine the number of days each car sat on the dealership’s lot before it was sold. The sample mean is 9.75 days, with a sample standard deviation of 2.39 days. Construct a 99% confidence interval for the population mean number of days the car model sits on the dealership’s lot
You randomly select 20 cars of the same model that were sold at a car dealership...
You randomly select 20 cars of the same model that were sold at a car dealership and determine the number of days each car sat on the dealership’s lot before it was sold. The sample mean is 9.75 days, with the sample standard deviation of 2.39 days. Construct a 99% confidence interval for the population mean number of days the car model sits on the dealership’s lot. Assume the days on the lot is normally distributed.
Problem 21-2 (Essay) Cleveland Inc. leased a new crane to Abriendo Construction under a 5-year noncancelable...
Problem 21-2 (Essay) Cleveland Inc. leased a new crane to Abriendo Construction under a 5-year noncancelable contract starting January 1, 2017. Terms of the lease require payments of $33,000 each January 1, starting January 1, 2017. Cleveland will pay insurance, taxes, and maintenance charges on the crane, which has an estimated life of 12 years, a fair value of $240,000, and a cost to Cleveland of $240,000. The estimated fair value of the crane is expected to be $45,000 at...
Accounting for Leases On July 1, 2017, Shroff Company leased a warehouse building under a 10-year...
Accounting for Leases On July 1, 2017, Shroff Company leased a warehouse building under a 10-year lease agreement. The lease requires quarterly lease payments of $4,500. The first lease payment is due on September 30, 2017. The lease was reported as a capital lease using an 8% annual interest rate. Required a. Prepare the journal entry to record the initial signing of the lease on July 1, 2017. (Use a financial calculator or Excel to compute. Round answer to the...
Accounting for Leases On July 1, 2017, Shroff Company leased a warehouse building under a 15-year...
Accounting for Leases On July 1, 2017, Shroff Company leased a warehouse building under a 15-year lease agreement. The lease requires quarterly lease payments of $6,000. The first lease payment is due on September 30, 2017. The lease was reported as a capital lease using a 6% annual interest rate. Required a. Prepare the journal entry to record the initial signing of the lease on July 1, 2017. (Use a financial calculator or Excel to compute. Round answer to the...
Accounting for Leases On July 1, 2017, Shroff Company leased a warehouse building under a 15-year...
Accounting for Leases On July 1, 2017, Shroff Company leased a warehouse building under a 15-year lease agreement. The lease requires quarterly lease payments of $5,000. The first lease payment is due on September 30, 2017. The lease was reported as a capital lease using a 6% annual interest rate. Required a. Prepare a financial statement effects template to show the effects of recording the initial signing of the lase on July 1, 2017 and the necessary entries on September...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT