Q 35

The sale price of 17 randomly selected 11 year old Chevy minivans has a sample standard deviation of $2615.19.

a) What is the point estimate for the population standard deviation?

b) What is the point estimate for the population variance?

c) Construct a 95% confidence interval for the population variance.

i & ii) what are the critical values you used in the formula (this must come from the tables from our textbook) GIVE BOTH.

iii) What is your lower bound

iv) What is your upper bound

d) Interpret your confidence interval

e) If this problem asked you to find the confidence interval for a standard deviation - what should you do to the values found in c)iii & c)iv?

All Answers should be to 2 decimals - It's money.