Q1. A sample of 45 customers who drive luxury cars showed that their average distance driven...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Q1. A sample of 45 customers who drive luxury cars showed that their average distance driven between oil changes was 3187 miles with a sample standard deviation of 42.40 miles. Another sample of 40 customers who drive compact lower-price cars resulted in an average distance of 3214 miles with a standard deviation of 50.70 miles. Suppose that the standard deviations for the two populations are not equal. (a) Construct a 95% confidence interval for the difference in the mean distance between oil changes for all luxury cars and all compact lower-price cars. (b) Using the 1% significance level, can you conclude that the mean distance between oil changes is lower for all luxury cars than for all compact lower-price cars? Q1. A sample of 45 customers who drive luxury cars showed that their average distance driven between oil changes was 3187 miles with a sample standard deviation of 42.40 miles. Another sample of 40 customers who drive compact lower-price cars resulted in an average distance of 3214 miles with a standard deviation of 50.70 miles. Suppose that the standard deviations for the two populations are not equal. (a) Construct a 95% confidence interval for the difference in the mean distance between oil changes for all luxury cars and all compact lower-price cars. (b) Using the 1% significance level, can you conclude that the mean distance between oil changes is lower for all luxury cars than for all compact lower-price cars?
Expert Answer:
Related Book For
Statistical Techniques in Business and Economics
ISBN: 978-0078020520
16th edition
Authors: Douglas Lind, William Marchal
Posted Date:
Students also viewed these mathematics questions
-
Seitz has a growing list of several hundred business-to-business customers. Managers would like to know whether the average dollar amount of sales per transaction per customer has changed from last...
-
A sample of 45 customers who drive luxury cars showed that their average distance driven between oil changes was 3187 miles with a sample standard deviation of 42.40 miles. Another sample of 40...
-
A student wanted to construct a 95% confidence interval for the mean age of students in her statistics class She randomly selected nine students Their average age was 19.1 years with a sample...
-
What is the output of the following statements? int a=2; float b=3.5; int c=a; printf("%d",c)
-
The accounting records of The Fenceman, Inc. reveal the following: Net Income ............$ 22,000 Payment of income tax ......... 13,000 Collection of dividend revenue .... 7,000 Payment to...
-
Winston Watch's stock price is $75 per share. Winston has $10 billion in total assets. Its balance sheet shows $1 billion in current liabilities, $3 billion in long-term debt, and $6 billion in...
-
The 2015 annual report of The Procter & Gamble Company (P&G) is available at www.pginvestor.com, After reviewing P&Gs annual report, respond to the following questions: a. Prepare a list of some of...
-
The Aztec Corporation has the following capital components and costs. Calculate AztecsWACC. Component Value Cost Debt Preferred stock Common equity 52,275 19.2 $23,625 12.0% 4,350 13.5
-
You just turned 30 years old and decided to start saving for your retirement. You plan to save $9,900 at the end of each year (so the first deposit will be one year from now), and will make the last...
-
The following questions are adapted from a variety of sources including questions developed by the AICPA Board of Examiners and those used in the Kaplan CPA Review Course to study long-term debt...
-
In order to develop and maintain quality in processes, products and services, there are factors that need to be considered. Please explain the factors with suitable examples
-
The Alpha Fire Station for a mid-sized city is staffed by three shifts. The first shift is supervised by Maryanne and operates from 7:00 a.m. to 3:00 p.m. The second shift is supervised by Lucas and...
-
You are an Associate Justice of the Supreme Court of Nowhere. The case of Millcreek Corporation u. Simmons, Executor, is now under advisement. Set out below are draft opinions by our colleagues. You...
-
A. This case is being determined by a judge. What type of law is created by judges and decisions madein the courts? B Whatis the name given to a case in law that is a judgement or decision of a court...
-
Simplify the compound fractional expression. x-9x+2 X-10 x+1 *+9
-
The production manager of Rordan Corporation has submitted the following quarterly production forecast for the upcoming 1st Quarter 2nd Quarter 3rd Quarter 9,800 7,900 Units to be produced 7,500 4th...
-
Exercise 12-8A (Algo) Determining cash flow from investing activities LO 12-3 On January 1, Year 1, Shelton Company had a balance of $266,500 in its Land account. During Year 1, Shelton sold land...
-
Write a paper about medication error system 2016.
-
Vehicles heading west on Front Street may turn right, turn left, or go straight ahead at Elm Street. The city traffic engineer believes that half of the vehicles will continue straight through the...
-
Information from the American Institute of Insurance indicates the mean amount of life insurance per household in the United States is $110,000. This distribution follows the normal distribution with...
-
Use Appendix B.5 to locate the value of t under the following conditions. a. The sample size is 12 and the level of confidence is 95%. b. The sample size is 20 and the level of confidence is 90%. c....
-
For each of the following situations develop an appropriate expression for the joint likelihood of N observations in terms of the duration density f ( t x , ) and survivor function S ( t x , ) ....
-
Consider the exponential-gamma mixture. This model is a special case of a MPH model. The survivor function, conditional on a multiplicative heterogeneity factor \(v\), for the exponential model is...
-
(a) Using a 50\% random sample of the McCall data set estimate the KaplanMeier nonparametric survival and integrated hazard function estimates by type of censoring, that is, by whether transition is...
Study smarter with the SolutionInn App