Selming useu cars is ojien a pain, A lot of selling to do for very little gain My used car lot has about 36 cars, Sometimes, washing them down gives me serious scars. The average car on my lot sells for a 7245 dollar With a standard deviation of 2500, it makes me holler! The 95% confidence interval is required to estimate the population mean Whether we fall in the normal range or not, remains to be seen! What distribution makes most sense to use and why, My manager wants me to explain everything to him, oh my! Assume that the underlying distribution is normal, and answer the following: Which distribution should you use for this problem? (Answer "t-distribution" or "Z-distribution"): b. The random variable X refers to the number of miles a used car has on it. Write "true" or "false". c. The 95% confidence interval for the population mean cost of a used car goes from $ to $

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 26PFA
icon
Related questions
Topic Video
Question

I need some with the following problems in excel with explanation

 

Selling used cars is often a pain,
A lot of selling to do for very little gain
My used car lot has about 36 cars,
Sometimes, washing them down gives me serious scars.
The average car on my lot sells for a 7245 dollar
With a standard deviation of 2500, it makes me holler!
The 95% confidence interval is required to estimate the population mean
Whether we fall in the normal range or not, remains to be seen!
What distribution makes most sense to use and why,
My manager wants me to explain everything to him, oh my!
Assume that the underlying distribution is normal, and answer the following:
a. Which distribution should you use for this problem? (Answer "t-distribution" or "Z-distribution"):
b. The random variable X refers to the number of miles a used car has on it. Write "true" or "false".
c. The 95% confidence interval for the population mean cost of a used car goes from $
to $
Transcribed Image Text:Selling used cars is often a pain, A lot of selling to do for very little gain My used car lot has about 36 cars, Sometimes, washing them down gives me serious scars. The average car on my lot sells for a 7245 dollar With a standard deviation of 2500, it makes me holler! The 95% confidence interval is required to estimate the population mean Whether we fall in the normal range or not, remains to be seen! What distribution makes most sense to use and why, My manager wants me to explain everything to him, oh my! Assume that the underlying distribution is normal, and answer the following: a. Which distribution should you use for this problem? (Answer "t-distribution" or "Z-distribution"): b. The random variable X refers to the number of miles a used car has on it. Write "true" or "false". c. The 95% confidence interval for the population mean cost of a used car goes from $ to $
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Knowledge Booster
Discrete Probability Distributions
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt