A NAPA auto parts supplier wants information about how long car owners plan to keep their...

A NAPA auto parts supplier wants information about how long car owners plan to keep their cars. a simple random sample of 31 car owners results in a mean of 7.01 years and a standard deviation of 3.74 years, respectively. Assume the sample is drawn from a normally distributed population.

a) Find a 95%confidence interval estimate of the mean.

b) Find a 95% confidence interval estimate of the population standard deviation.

c) If several years pass and you want to conduct a new survey to estimate the mean length of time that car owners plan to keep their cars, how many randomly selected cars owners must you survey? Assume you want 99% confidence that the sample mean is within 0.25 year of the population mean,also assume the standard deviation is 3.74 years.

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milcah answered 8 months ago

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