Consider the 80.5 expected car buyers in the $45,000–$55,000 income group from the Autorama case. Using the same assumptions we made for the case, determine the expected number of sales in each price bracket from this group. 

Hint: Use the normal distribution to determine the probability that someone in this group would buy a car in each price bracket. You may wish to do your calculations in a spreadsheet. 

Note: The price brackets are “Less then 10,000”, “10,000-20,000”, “20,000-30,000”, “30,000-40,000”, “More than 40,000”.

Answer rating: 100% (QA)

Initially we plotted the data added a regression line and understood ... View the full answer