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.

2. You randomly select 16 cars of the same model that were sold at a car...

2. You randomly select 16 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 9.15 days, with a sample standard deviation of 1.6 days. Construct a 95% confidence interval for the population mean number of days the car model sits on the dealership’s lot. (10 p) (Round off final answers to two decimal places, if appropriate....

Suppose that you own a car dealership and purchase (randomly select) 10 cars of a certain...

Suppose that you own a car dealership and purchase (randomly select) 10 cars of a certain make from a production run of 200 cars. Of the 200 cars, 160 are destined to last at least five years without needing a major repair. Using the hypergeometric distribution what is the probability that at least 6 of your 10 cars will last at least five years without needing a major repair.

One of the cars sold by Walt's car dealership is a very popular subcompact car called...

One of the cars sold by Walt's car dealership is a very popular subcompact car called the Rhino. The final sale price of the basic model of this car varies from customer to customer depending on the negotiating skills and persistence of the customer. Assume that these sale prices of this car are normally distributed with a mean of $19900 and a standard deviation of $360. Round your answers to 2 decimal places. a. Dolores paid $19525 for her Rhino....

1. You randomly select 36 restaurants and measure the temperature of coffee sold at each. The...

1. You randomly select 36 restaurants and measure the temperature of coffee sold at each. The sample mean temperature is 162.0°F. Temperatures historically have had a population standard deviation of 10.0°F. Which of the following intervals is the correct 95% confidence interval for the true mean? (T interval or Z interval) 2. If all other quantities remain the same, how does the indicated change affect the width of a confidence interval? Decrease the level of confidence from 95% to 90%?

You have been hired by a used-car dealership to modify the price of cars that are...

You have been hired by a used-car dealership to modify the price of cars that are up for sale. You will get the information about a car, and then change its price tag depending on a number of factors. Write a program (a script named: 'used_cars.m' and a function named 'car_adjust.m').The script passes the file name 'cars.dat' to the function. The following information is stored inside the file: Ford, 2010 with 40,000 miles and no accident at marked price of...

Following table shows the monthly sales of cars at a dealership: Month Number of cars Sold...

Following table shows the monthly sales of cars at a dealership: Month Number of cars Sold 1 79 2 79 3 86 4 93 5 101 6 107 7 102 8 What is the Trend equation for the above data? What is the expected sales for the 8th month based on the Trend method? How much error is there in this forecasting method using MAD?

Write a Java program for a car dealership. The dealer has 10 cars in the showroom...

Write a Java program for a car dealership. The dealer has 10 cars in the showroom and space for 50 cars. Each car has a unique plate number, model, color, company, and a year of manufacture. Your program should have two classes: the "Car" class has the car information and the "info" method that displays the car information. The other class is an array class "CarArray" that has four methods:" display", "insert", "find", and the "delete" method. When the program...

A car salesman tells you that the model you are looking at gets on average 36...

A car salesman tells you that the model you are looking at gets on average 36 miles per gallon overall (highway and street driving) with a standard deviation of 4 miles per gallon. He also tells you that 20% of the cars get at least 44 miles per gallon. a. ( Do you think this is a normal distribution? Explain why or why not. (there is no one right answer for this) b. Analyze the salesman's statement mathematically. Is he...

11. A sample of 30 used cars sold by an auto dealership in 2009 revealed that...

11. A sample of 30 used cars sold by an auto dealership in 2009 revealed that the correlation between selling price and number of kilometres driven was −0.45. We want to test, at the 1% significance level, if there is a negative linear relationship in the population between selling price and number of kilometres driven. According to the p-value given in the table, our conclusion would be to reject the null hypothesis and conclude that the sample evidence supports the...

Question