Question: $ 13,990 $ 8,945 $ 10,559 $ 8,995 $ 12,950 $ 9,995 $ 11,995 $ 20,946 $ 15,488 $ 12,999 Mean 12686.2 Standard Error 1144.108278
$ 13,990 $ 8,945 $ 10,559 $ 8,995 $ 12,950 $ 9,995 $ 11,995 $ 20,946 $ 15,488 $ 12,999
Mean 12686.2 Standard Error 1144.108278 Median 12472.5 Mode #N/A Standard Deviation 3617.988047 Sample Variance 13089837.51 Kurtosis 2.250965438 Skewness 1.33635433 Range 12001 Minimum 8945 Maximum 20946 Sum 126862 Count 10 Confidence Level(92.0%) 2256.928228
Average 6 p 0.6 q 0.4 Sample Size 10
Using the data set you collected in Week 1, excluding the super car outlier, you should have calculated the mean and standard deviation during Week 2 for price data. Along with finding a p and q from Week 3. Using this information, calculate two 95% confidence intervals. For the first interval you need to calculate a T-confidence interval for the sample population. You have the mean, standard deviation and the sample size, all you have left to find is the T-critical value and you can calculate the interval. For the second interval calculate a proportion confidence interval using the proportion of the number of cars that fall below the average. You have the p, q, and n, all that is left is calculating a Z-critical value,
Make sure you include these values in your post, so your fellow classmates can use them to calculate their own confidence intervals. Once you calculate the confidence intervals you will need to interpret your interval and explain what this means in words.
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