Answered: Suppose population 1 is all blue cars…

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

Sampling distribution

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

What is the shape of the sampling distribution?

a) Normal

b) Skewed Right

c) Bimodal

d) Skewed Left

Are there any unusual features in this sampling distribution?

a) Yes

b) No

Are both populations normally distributed?

a) Yes

b) No

Does the problem indicate there is heavy skewness?

a) Yes

b) No

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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