QUESTION 1

a) Use the variable "Price" to construct the confidence intervals for the estimate of the population mean "Price" for RED CAR (use variable RED), at both the 60% and 90% levels

Interpret and compare your confidence intervals. Include your SPSS/Excel output chart for ALL questions, pasted at the bottom.

b) Clearly state all assumptions made in constructing your confidence intervals and discuss why your team made these assumptions? If possible, check to see whether the assumption(s) is(are) satisfied.

Data for the colour red car for the variability price

RED	62010
RED	19860
RED	22467
RED	83320
RED	24235
RED	29790
RED	12057
RED	84790
RED	64740
RED	60240
RED	29605
RED	56290
RED	45860
RED	35959
RED	38715
RED	100960
RED	45730
RED	30180
RED	33800
RED	77410
RED	94949
RED	55040
RED	35919
RED	134480
RED	28763
RED	43020
RED	15050
RED	29550
RED	77280
RED	82490
RED	75971
RED	84900
RED	27610
RED	45142
RED	38900
RED	53990
RED	23621
RED	35130
RED	75823
RED	23838
RED	15269
RED	41178
RED	17340
RED	65120
RED	56120
RED	31370
RED	160120
RED	128990
RED	115050
RED	21520
RED	63000
RED	79460