Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A travel website would like to estimate the difference between the average rental price of a car with automatic transmission versus the average rental price

image text in transcribed
A travel website would like to estimate the difference between the average rental price of a car with automatic transmission versus the average rental price of a car with manual transmission at a certain airport. The table below shows the average one week rental prices for two random samples, as well as the population standard deviations and sample sizes for each type of car Complete parts a and b Sample mean Sample size Population standard deviation Automatic $401 90 53 $24 Manual $349 30 33 $27 a. Construct a 90% confidence interval to estimate the difference in the average cost of a one-week rental between these two types of cars at the airport. Let the cars with automatic transmissions be population 1 and the cars with manual transmissions be population 2 The confidence interval is ($ ] ) (Round to the nearest cent as needed.) b. Based on the results from part a, can you conclude that a difference exists in the average rental price of the two types of cars? Since the confidence interval include $0, there is evidence to conclude that a difference exists in the average price of the two types of cars

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Concepts In Practical Differential Equations

Authors: Sabita Mahanta

1st Edition

9353146488, 9789353146481

More Books

Students also viewed these Mathematics questions

Question

Explain the difference between price- takers and price- setters.

Answered: 1 week ago

Question

Solve the equation. 2x 2 + x - 15 = 0

Answered: 1 week ago