Example 6 mentioned closing prices for listings of the iPhone 5s on eBay. If you dont feel
Question:
a. What must we assume to use these data to find a 95% confidence interval for the mean Buy It Now price on eBay? Do these assumptions seem plausible?
b. The table shows the way software reports results. How was the standard error of the mean (SE Mean) obtained?
c. Interpret the 95% confidence interval in context.
d. Compared to the confidence interval (569, 599) for prices from auctions obtained in Example 6, is there evidence that the mean price is higher when purchased through Buy It Now? Explain.
e. Excluding the observation of $675, the confidence interval equals (615, 636). Does this change your answer to part d?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Statistics The Art And Science Of Learning From Data
ISBN: 9780321997838
4th Edition
Authors: Alan Agresti, Christine A. Franklin, Bernhard Klingenberg
Question Posted: