5. The daily car rental rates for a sample of eight cities follow. City Atlanta Chicago Dallas Daily Car Rental I 47 50 53

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5. The daily car rental rates for a sample of eight cities follow.
City
Atlanta
Chicago
Dallas
New Orleans
C.
Phoenix
Pittsburgh
San Francisco
Seattle
Daily Car Rental Rate ($)
47
50
53
45
40
43
39
37
a. Compute the variance and the standard deviation for these data.
b.
What is the 95% confidence interval estimate of the variance of car rental rates for the
population?
What is the 95% confidence interval estimate of the standard deviation for the population?
Transcribed Image Text:5. The daily car rental rates for a sample of eight cities follow. City Atlanta Chicago Dallas New Orleans C. Phoenix Pittsburgh San Francisco Seattle Daily Car Rental Rate ($) 47 50 53 45 40 43 39 37 a. Compute the variance and the standard deviation for these data. b. What is the 95% confidence interval estimate of the variance of car rental rates for the population? What is the 95% confidence interval estimate of the standard deviation for the population?
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