Question

   #22 We are interested in comparing the average price of cars in 2015 and 2010....

   #22

We are interested in comparing the average price of cars in 2015 and 2010. We are given the following data:

   2010    2015

   sample mean $29,217 $31,252

sample standard deviation $4,560    $3,942

   Sample Size    30    22

Find the 95% confidence interval for the difference from 2015 and 2010.

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1


0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
We are interested in looking at the percentage of households that own dogs in the U.S....
We are interested in looking at the percentage of households that own dogs in the U.S. and England. We are given the following information: Number of people Surveyed Number of people who own a dog U.S. 700 294 England 850 391 The point estimate for the difference in proportions between people in the U.S. who own dogs and people in England who own dogs is: a. 0.04 b. 0.0716 c. -0.04 d. -0.0716 We are interested in looking at the...
We are interested in comparing the average supermarket prices of two leading colas in the Tampa...
We are interested in comparing the average supermarket prices of two leading colas in the Tampa area. Our sample was taken by randomly going to each of eight supermarkets and recording the price of a six-pack of cola of each brand. Find a 98% confidence interval for the difference in mean price of brand 1 and brand 2. Assume that the paired data came from a population that is normally distributed. Summary information is as follows: d = −0.0375, Sd=...
A group of university students are interested in comparing the average age of cars owned by...
A group of university students are interested in comparing the average age of cars owned by students and the average age of cars owned by faculty. They randomly selected 25 cars that are own by students and 20 cars that are owned by faculty. The average age and standard deviation obtained from the students’ cars are 6.78 years and 5.21 years, respectively. The sample of faculty cars produced a mean and a standard deviation of 5.86 years, and 2.72. At...
Suppose we are interested in analyzing the weights of NFL players. We know that on average,...
Suppose we are interested in analyzing the weights of NFL players. We know that on average, NFL players weigh 247 pounds with a population standard deviation of 47 pounds. Suppose we take a sample of 30 new players and we find that the average weight from that sample is 237 pounds. We are interested in seeing if the weight of NFL players is decreasing What is the standard error? What is the margin of error at 90% confidence? Using my...
A travel website would like to estimate the difference between the average rental price of a...
A travel website would like to estimate the difference between the average rental price of a car with automatic transmission versus the average rental price of a car with manual transmission at a certain airport. The table below shows the average​ one-week rental prices for two random​ samples, as well as the population standard deviations and sample sizes for each type of car. Complete parts a and b. Automatic: Sample mean = $397.30 , Sample Size = 50, Pop. Standard...
Suppose we are interested in analyzing the weights of NFL players. We know that on average,...
Suppose we are interested in analyzing the weights of NFL players. We know that on average, NFL players weigh 247 pounds with a population standard deviation of 47 pounds. Suppose we take a sample of 30 new players and we find that the average weight from that sample is 237 pounds. We are interested in seeing if the weight of NFL players is decreasing If I wanted to control my margin of error and set it to 5 at 90%...
3. We are interested in estimating the mean annual income of adults in Sweetwater County. To...
3. We are interested in estimating the mean annual income of adults in Sweetwater County. To accomplish this, we select a random sample of 65 adults residing in the county. We find that the sample mean is $47,250, and we know from the previous studies that the population standard deviation is $3,555. a) Calculate a 95% confidence interval for the population mean, and interpret the result. B) Calculate a 99% confidence interval for the population mean, and interpret the result....
A professor is interested in comparing the average amount spent on textbooks for freshmen and sophomores....
A professor is interested in comparing the average amount spent on textbooks for freshmen and sophomores. A random sample of 15 freshmen yielded a sample mean amount of $1016 and a sample standard deviation of $54. A random sample of 12 sophomores yielded a sample mean amount of $1236 and a sample standard deviation of $320. Construct a 95% confidence interval for the difference between the mean amount spent on textbooks by freshmen and the mean amount spent by sophomores...
Suppose we are interested in how well people do on a standardized test when they take...
Suppose we are interested in how well people do on a standardized test when they take it for a second time. In a random sample of 400 students who took the test for a second time, students gained an average of X-bar = 12 points. Let’s say that the sample comes from a population with σ = 42. The 95% confidence interval for μ (the mean point gain) is: μ = 12 ± (1.96) (42/√400) = 12 ± 4.12 =...
A professor is interested in comparing the average amount spent on textbooks for freshmen and sophomores....
A professor is interested in comparing the average amount spent on textbooks for freshmen and sophomores. A random sample of 10 freshmen yielded a sample mean amount of $1023 and a sample standard deviation of $68. A random sample of 14 sophomores yielded a sample mean amount of $1257 and a sample standard deviation of $338. Construct a 99% confidence interval for the difference between the mean amount spent on textbooks by freshmen and the mean amount spent by sophomores...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT