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

Expert Solution

Given that

sample n =36

sample mean is 9.75

sample standard deviation of 2.39

99% confidence interval

orchestra answered 2 years ago

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.

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