A Single Population Mean Using the Student's t-Distribution · Exercise 33
In a recent sample of 84 used car sales costs, the sample mean was $6,425, with a standard deviation of $3,156. Assume the underlying distribution is approximately normal.
(a) Which distribution should you use for this problem? Explain your choice.
(b) Define the random variable in words.
(c) Construct a 95 percent confidence interval for the population mean cost of a used car.
(a) State the confidence interval.
(b) Sketch the graph.
(c) Calculate the error bound.
(d) Explain what a 95 percent confidence interval means for this study.
Its source prints no answer for this problem, so there's nothing to check against.
OpenStax, Statistics · §8.2 A Single Population Mean Using the Student's t-Distribution · Exercise 33
No hints for this one.
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