Answered: According to the National Automobile…

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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Question

According to the National Automobile Dealers Association, the mean price for used cars is $ 10,314. A manager of a Kansas City used car dealership reviewed a sample of 50 recent used car sales at the dealership in an attempt to determine whether the population mean price for used cars at this particular dealership differed from the national mean. The prices for the sample of 50 cars are shown in the table below.

8,870	7,490	10,015	11,025	10,670
9,220	7,550	10,495	10,015	9,280
8,755	10,955	7,700	12,520	12,240
11,985	12,390	9,995	10,195	8,960
11,210	9,925	9,405	10,070	9,440
9,755	8,230	10,265	11,370	7,715
10,455	9,000	10,435	9,395	9,475
8,070	10,045	10,740	12,055	11,005
8,020	8,570	9,115	9,900	6,335
10,145	7,310	10,410	9,330	10,130

b. What is the t-value? Enter negative value if your answer is negative.

t-value: (to 2 decimals)

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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