110. In a recent sample of 84 used car sales costs, the sample mean was $6,425 with a standard deviation of $3,156. Assume the underlying distribution is approximately normal. a. Which distribution should you use for this problem? Explain your choice. b. Define the random variable X in words. c. Construct a 95% confidence interval for the population mean cost of a used car. i. State the confidence interval. ii. Sketch the graph. d. Explain what a "95% confidence interval" means for this study.
110. In a recent sample of 84 used car sales costs, the sample mean was $6,425 with a standard deviation of $3,156. Assume the underlying distribution is approximately normal. a. Which distribution should you use for this problem? Explain your choice. b. Define the random variable X in words. c. Construct a 95% confidence interval for the population mean cost of a used car. i. State the confidence interval. ii. Sketch the graph. d. Explain what a "95% confidence interval" means for this study.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 20PFA
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Please answer a,b,c,d. Ty!
![110. In a recent sample of 84 used car sales costs, the sample mean was $6,425 with a standard deviation
of $3,156. Assume the underlying distribution is approximately normal.
a. Which distribution should you use for this problem? Explain your choice.
b. Define the random variable X in words.
c. Construct a 95% confidence interval for the population mean cost of a used car.
i. State the confidence interval.
ii. Sketch the graph.
d. Explain what a "95% confidence interval" means for this study.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1669f052-7c64-4670-b150-2cccd7d3d071%2Fe6540084-d54f-4d07-8ef3-86b8b97aa52b%2Fmat88eb_processed.jpeg&w=3840&q=75)
Transcribed Image Text:110. In a recent sample of 84 used car sales costs, the sample mean was $6,425 with a standard deviation
of $3,156. Assume the underlying distribution is approximately normal.
a. Which distribution should you use for this problem? Explain your choice.
b. Define the random variable X in words.
c. Construct a 95% confidence interval for the population mean cost of a used car.
i. State the confidence interval.
ii. Sketch the graph.
d. Explain what a "95% confidence interval" means for this study.
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