A car dealer wants to get information about the number of years car owners keep their cars. A random sample of 25 car owners resulted in ?̅ = 7.01 years, and ? = 3.74 years. Assume that the sample is drawn from a normally distributed population.3. Construct a 95% confidence interval for the mean number of years of car ownership.(a) (5.25, 8.19)(b) (5.55,8.46) (c) (5.41,8.29) (d) (5.47, 8.55) (e) (5, 8)All other information remaining unchanged, which of the following would produce a wider interval than the 95% confidence interval constructed?(a) The sample size is 29 instead of 25.(b) The sample size is 10 instead of 25.(c) Compute a 80% confidence interval rather than a 95% confidence interval.(d) Compute a 90% confidence interval rather than a 95% confidence interval.(e) The sample standard deviation is computed to be 1.52 instead of 3.74.

Name: A car dealer wants to get information about the number of years car ow
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Description: A car dealer wants to get information about the number of years car owners keep their cars. A random sample of 25 car owners resulted in ?̅ = 7.01 years, and ? = 3.74 years. Assume that the sample is drawn from a normally distributed population.3. Co

Here, the sample size is 25 that is reasonably small. The population standard deviation is also…

Answered: A car dealer wants to get information…

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter8: Sequences, Series, And Probability

Section8.7: Probability

Problem 58E: What is meant by the sample space of an experiment?

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A car dealer wants to get information about the number of years car owners keep their cars. A random sample of 25 car owners resulted in ?̅ = 7.01 years, and ? = 3.74 years. Assume that the sample is drawn from a normally distributed population.

3. Construct a 95% confidence interval for the mean number of years of car ownership.

(a) (5.25, 8.19)(b) (5.55,8.46) (c) (5.41,8.29) (d) (5.47, 8.55) (e) (5, 8)

All other information remaining unchanged, which of the following would produce a wider interval than the 95% confidence interval constructed?

(a) The sample size is 29 instead of 25.
(b) The sample size is 10 instead of 25.

(d) Compute a 90% confidence interval rather than a 95% confidence interval.

(e) The sample standard deviation is computed to be 1.52 instead of 3.74.

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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