Question: 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

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 forpricedata.Along with finding apandqfrom 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. thep,q, andn, all that is left is calculating a Z-critical value,

Make sure to include these values in the post, so fellow classmates can use them to calculate their own confidence intervals.Once you calculate the confidence intervals, interpret interval and explain what this means in words.

Make Model Price

Ford F350 SD King Ranch 88595

Ford F350 SD Lariat FX 72000

Ford Fusion PHEV 37290

Ford Fusion 25015

Chevy Bel Air 50000

Mercedes G Class 128645

Tesla X 92190

Porsche Panamera 88550

BMW i3 54445

Ford Bronco 67330

Are the confidence intervals surprising, knowing what you have learned about confidence intervals, proportions and normal distribution?Please theWeek 5 Confidence T-Interval Mean and Unknown SD PDFand theWeek 5 Confidence Interval Proportions PDFat the bottom of the discussion.This will give you a step by step example on how to help you calculate this using Excel. These PDFs will also help you in Quizzes section.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!