Question

Research of selling prices for used two-year-old Corvettes reveals that they have a standard deviation of $2157 (based on data from Edmunds.com). How many selling prices must you obtain in order to estimate the mean selling price of these cars? Assume that you want 98% confidence that your sample mean is within $250 of the population mean. Is it likely that you will find that many two-year-old used Corvettes in your region?


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  • CreatedMay 03, 2015
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