Suppose population 1 is all blue cars sold at used car auctions, and the mean sale price of all such blue cars is $24,579 with a standard deviation of $3,691. Additionally, suppose population 2 is all red cars sold at used car auctions, and the mean sale price of all such red cars is $21,948 with a standard deviation of $4,028. If a simple random sample of 47 blue cars sold at used car auctions is selected and the mean sale price of the 47 blue cars in the sample is determined, and if an independent simple random sample of 59 red cars sold at used car auctions is selected and the mean sale price of the 59 red cars in the sample is determined, if appropriate describe completely the sampling distribution of X1-X2. Do we have 2 independent simple random samples? Are both populations normally distributed? Does the problem indicate there is heavy skewness? What is the minimum sample size needed from each population in order to be able to describe the distribution of the differences in means for this problem? - 40 or more -15 or more - any size Are the sample sizes large enough to apply the Central Limit Theorem?
Suppose population 1 is all blue cars sold at used car auctions, and the mean sale price of all such blue cars is $24,579 with a standard deviation of $3,691. Additionally, suppose population 2 is all red cars sold at used car auctions, and the mean sale price of all such red cars is $21,948 with a standard deviation of $4,028. If a simple random sample of 47 blue cars sold at used car auctions is selected and the mean sale price of the 47 blue cars in the sample is determined, and if an independent simple random sample of 59 red cars sold at used car auctions is selected and the mean sale price of the 59 red cars in the sample is determined, if appropriate describe completely the sampling distribution of X1-X2.
Do we have 2 independent simple random samples?
Are both populations
Does the problem indicate there is heavy skewness?
What is the minimum
- 40 or more
-15 or more
- any size
Are the sample sizes large enough to apply the Central Limit Theorem?
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