A statistics student was interested in prices for used Mustang cars being offered for sale online. He sampled 25 cars from the website and recorded the asking price (in $1000s) for each car in his sample. We will examine a bootstrap distribution of sampling medians from the price data in his original sample of 25 cars. Instructions: Go to StatKey, and click "CI for Single Mean, Median, St.Dev." Go to the dataset "Mustang Price," and change the plot to a "Bootstrap Dotplot of Medians." Click "Generate 1000 Samples" five times. You have just created a bootstrap distribution of 5000 bootstrap samples for the median price of Mustangs, using the original sample of 25 cars. (1) Sketch the bootstrap dotplot of medians below (you may draw vertical lines instead of dots): (2) Explain why it would not be appropriate to use the bootstrap distribution to construct a 95% CI for the median price of mustangs. Refer to the shape of the bootstrap distribution. (3) Why do you think bootstrap distributions of otstrap medians look different from bootstrap distributions of bootstrap means or proportions?
A statistics student was interested in prices for used Mustang cars being offered for sale online. He sampled 25 cars from the website and recorded the asking price (in $1000s) for each car in his sample. We will examine a bootstrap distribution of sampling medians from the price data in his original sample of 25 cars. Instructions: Go to StatKey, and click "CI for Single Mean, Median, St.Dev." Go to the dataset "Mustang Price," and change the plot to a "Bootstrap Dotplot of Medians." Click "Generate 1000 Samples" five times. You have just created a bootstrap distribution of 5000 bootstrap samples for the median price of Mustangs, using the original sample of 25 cars. (1) Sketch the bootstrap dotplot of medians below (you may draw vertical lines instead of dots): (2) Explain why it would not be appropriate to use the bootstrap distribution to construct a 95% CI for the median price of mustangs. Refer to the shape of the bootstrap distribution. (3) Why do you think bootstrap distributions of otstrap medians look different from bootstrap distributions of bootstrap means or proportions?
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Transcribed Image Text:A statistics student was interested in prices for used Mustang cars being offered for sale online.
He sampled 25 cars from the website and recorded the asking price (in $1000s) for each car in his
sample. We will examine a bootstrap distribution of sampling medians from the price data in his
original sample of 25 cars.
Instructions: Go to StatKey, and click "CI for Single Mean, Median, St.Dev." Go to the dataset
"Mustang Price," and change the plot to a "Bootstrap Dotplot of Medians." Click "Generate 1000
Samples" five times. You have just created a bootstrap distribution of 5000 bootstrap samples for
the median price of Mustangs, using the original sample of 25 cars.
(1) Sketch the bootstrap dotplot of medians below (you may draw vertical lines instead of dots):
(2) Explain why it would not be appropriate to use the bootstrap distribution to construct a
95% CI for the median price of mustangs. Refer to the shape of the bootstrap distribution.
(3) Why do you think bootstrap distributions of bootstrap medians look different from bootstrap
distributions of bootstrap means or proportions?
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