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.
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