A government bureau publishes annual price figures for new mobile homes. A simple random sample of 36 new mobile homes yielded the following prices, in thousands of dollars. Assume that the population standard deviation of all such prices is $9.6 thousand, that is, $9,600. Use the data to obtain a 99.7% confidence interval for the mean price of all new mobile homes. Prices of New Mobile HomesPrices ($1000s) of 36 Randomly Selected New Mobile Homes66.668.458.858.062.661.055.973.663.366.774.663.958.565.760.755.649.972.949.056.472.659.064.564.156.352.154.755.877.176.761.774.757.369.763.679.2PrintDone A government bureau publishes annual price figures for new mobile homes. A simple random sample of 36 new mobilehomes yielded the following prices, in thousands of dollars. Assume that the population standard deviation of all suchprices is $9.6 thousand, that is, $9,600. Use the data to obtain a 99.7% confidence interval for the mean price of allnew mobile homes.Click the icon to view a table of prices of new mobile homes.The 99.7% confidence interval is from $to $(Round to the nearest dollar as needed.)

The formula for the mean is: Add all the values. The sum is 2281.2. Now, the mean of the data is:

Answered: d the following prices, in thousands…

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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A government bureau publishes annual price figures for new mobile homes. A simple random sample of 36 new mobile homes yielded the following prices, in thousands of dollars. Assume that the population standard deviation of all such prices is $9.6 thousand, that is, $9,600. Use the data to obtain a 99.7% confidence interval for the mean price of all new mobile homes.

Prices of New Mobile Homes
Prices ($1000s) of 36 Randomly Selected New Mobile Homes
66.6
68.4
58.8
58.0
62.6
61.0
55.9
73.6
63.3
66.7
74.6
63.9
58.5
65.7
60.7
55.6
49.9
72.9
49.0
56.4
72.6
59.0
64.5
64.1
56.3
52.1
54.7
55.8
77.1
76.7
61.7
74.7
57.3
69.7
63.6
79.2
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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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