Question
Data contains on several variables for a sample of 1436 second-hand Toyota Corolla cars in Holland. In particular, the data in the third column, titled
Data contains on several variables for a sample of 1436 second-hand Toyota Corolla cars in Holland. In particular, the data in the third column, titled PRICE, shows the quoted price for these cars.
Below is a 95% CI Compute for the population average price of second-hand Toyota Corolla cars in Holland. Show what formula, if any, you used to arrive at this interval.
Mean | 10730.82451 |
Standard Error | 95.71193469 |
Median | 9900 |
Mode | 8950 |
Standard Deviation | 3626.964585 |
Sample Variance | 13,154,872.10 |
Kurtosis | 3.73778119 |
Skewness | 1.70388498 |
Range | 28150 |
Minimum | 4350 |
Maximum | 32500 |
-What is the population of interest in the problem? (Answer in a sentence or two)
-What is the variable of interest in this problem? (Answer in a sentence or two)
-Which is the fundamental result upon which the formula for the calculation of the CI in (a) above depends?
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