A Volvo advertisement said that the average American drives for 50 years and buys a new car,
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A Volvo advertisement said that the average American drives for 50 years and buys a new car, on average, every 3¼ years—a total of 15.4 cars in 50 years. Since Volvos last an average of 11 years in Sweden, Volvo owners need to buy only 4.5 cars in 50 years. Carefully explain why these data are very misleading.
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Related Book For
Essential Statistics Regression And Econometrics
ISBN: 9780123822215
1st Edition
Authors: Gary Smith
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