Question

According to the American Automobile Association’s 2012 annual report Your Driving Costs, the cost of owning and operating a four-wheel drive SUV is $11,350 per year (USA TODAY, April 27, 2012). This cost includes expenses for gasoline, maintenance, insurance, and financing for a vehicle that is driven 15,000 miles a year. Suppose that the distribution of such costs of owning and operating all four wheel drive SUVs has a mean of $11,350 with a standard deviation of $2390. Let  be the average of such costs of owning and operating a four-wheel drive SUV based on a random sample of 400 four-wheel drive SUVs. Find the mean and standard deviation of the sampling distribution of 


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  • CreatedAugust 25, 2015
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