Answered: The number of cars sold annually by…

Name: The number of cars sold annually by used car salespeople is normally d
Uploaded: 2024-03-20T07:07:12.000Z
Channel: Bartleby
Description: The number of cars sold annually by used car salespeople is normally distributed with a standard deviation of 16. A random sample of 320 salespeople was taken and the mean number of cars sold annually was found to be 65. Find the 96% confidence inter

Big Ideas Math A Bridge To Success Algebra 1: Student Edition 2015

1st Edition

ISBN:9781680331141

Author:HOUGHTON MIFFLIN HARCOURT

Publisher:HOUGHTON MIFFLIN HARCOURT

Chapter11: Data Analysis And Displays

Section: Chapter Questions

Problem 5CR

See similar textbooks

Related questions

Topic Video

Question

The number of cars sold annually by used car salespeople is normally distributed with a standard deviation of 16. A random sample of 320 salespeople was taken and the mean number of cars sold annually was found to be 65. Find the 96% confidence interval estimate of the population mean.

Note: For each confidence interval, enter your answer in the form (LCL, UCL). You must include the parentheses and the comma between the confidence limits.

Confidence Interval =

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 + ...

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 3 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Hypothesis Tests and Confidence Intervals for Means$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, probability and related others by exploring similar questions and additional content below.

Recommended textbooks for you

Big Ideas Math A Bridge To Success Algebra 1: Stu…

Algebra

ISBN:

9781680331141

Author:

HOUGHTON MIFFLIN HARCOURT

Publisher:

Houghton Mifflin Harcourt