Table 3 presents summary statistics of data from a popular car sale advertisement website 90 days before and after a new tax policy (related to cars) is put in place by the government The website collects data from advertisements posted by individuals on price at which they are willing to sell the car as well as the mileage of the car Moreover, the cars are categorized as being less than 1300cc or more than that Policy makers think that the tax policy will have differential impacts on cars which are above 1300cc compared to those that are below Car Type CC 1300 CC 1300 Data for 90 days before Policy Change Price Mileage Standard Deviation Mean 712,898 9 1,141,288 78,622 86 110,713 2 1,347,541 2,204,657 92,891 19 104,470 2 Standard Mean Deviation Data for 90 days after Policy Change Price Mileage Standard Mean Deviation 718,495 4 680,012 83,971 5 114,176 8 1,675 274 86,845 81 101,537 7 Table 3 Car Type CC 1300 CC 1300 1,397,546 Number of Observations 174,692 110,150 Standard Number of Mean Deviation Observations 190,239 104,921 Use the data provided in Table 3 to answer the following questions (Show all steps and work in detail) a Did the tax policy have a statistically significant impact on the price and mileage of cars below 1300ce 3 b Estimate the 99 interval for the impact of policy on car price for cars below 1300ce 3 c Did the tax policy have a statistically significant impact on the price and mileage of cars above 1300cc 3 d Estimate the 99 interval for the impact of policy on car price for cars above 1300ce 3

Question: Table 3 presents summary statistics of data from a popular car sale advertisement website 90 days before and after a new tax policy (related

Table 3 presents summary statistics of data from a popular car sale

Table 3 presents summary statistics of data from a popular car sale advertisement website 90 days before and after a new tax policy (related to cars) is put in place by the government. The website collects data from advertisements posted by individuals on price at which they are willing to sell the car as well as the mileage of the car. Moreover, the cars are categorized as being less than 1300cc or more than that. Policy makers think that the tax policy will have differential impacts on cars which are above 1300cc compared to those that are below. Car Type CC

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