Questions for Task 1:

1)What is the sample mean of our original sample?

The mean of the original sample is 15.98 = $15,980.

2) What characteristics of the original sample make it NOT appropriate for us to use a t procedure to make our confidence interval?

3) What is the standard deviation of your bootstrap distribution, i.e., the standard error?

4) Using your answers above, what is your 95% confidence interval for?

5) Given your confidence interval, would you reject a claim that = $21,000, or would you fail to reject a claim that = $21,000. Carefully explain your reasoning and reference your interval in your explanation.

6) Imagine that a friend of yours who lives in the area is preparing to sell a Ford Mustang and they ask you to help them determine a selling price. Please write a message that starts with "Dear friend," and includes two or more sentences that include the following: the selling price you recommend, some background as to how this StatKey exercise helped you come up with that price, any additional information you would like to have from your friend about the car that might lead you to change your recommend price number, and some advice to your friend as to where they could look for more information about pricing the car.

7) Submit a single screen print of your StatKey screen that shows your bootstrap distribution, a dotplot of the original sample, and the summary measures for both.

Bb Take Tes X Bb Discuss X MC Home - Bb Take Te: X Bb Review X Bb Take Te: X Dear fric X G One waj X M (no subj x G To use a X *Homew X Bootstre X C A Not Secure | lock5stat.com/StatKey/bootstrap_1_quant/bootstrap_1_quant.html it TG W G m ES i: Apps MC MyMC Login YouTube 30] Calendar Essential Commu... Reading List StatKey Confidence Interval for a Mean, Median, Std. Dev. Mustang Price (Price) * Show Data Table Edit Data Upload File Change Column(s) Generate 1 Sample Generate 10 Samples Generate 100 Samples Generate 1000 Samples Reset Plot Bootstrap Dotplot of Mean Original Sample n = 25, mean = 15.98 OLeft Tail Two-Tail Right Tail samples = 4000 median = 11.9, stdev = 11.114 120 mean = 15.971 20 std. error = 2.164 15 10 5 10 20 30 40 15.98 Bootstrap Sample Show Data Table n = 25, mean = 18.636 median = 12.9, stdev = 12.332 20 15 10 5 o .... : .: : . 10 18.636 30 40 10 12 14 18 20 22 24 15.971 Help Statkey v. 3.0.2 is written in JavaScript and should work well with any current browser including Chrome, Firefox, Safari, Opera, and Edge. Presentation Mode Statkey contains accessibility features, including screen reader support and keyboard navigation. Q OFF Comments, feedback, accessibility issues, and bug reports can be sent to lock5stat@gmail. com. Statkey Project -....pdf Show All XBb Take Tes X Bb Discuss X MC Home - Bb Take Te: X Bb Review X Bb Take Te: X G Dear fric X G One waj x M (no subj x G To use a X *Homew X Random X C A Not Secure | lock5stat.com/StatKey/randomization_1_quant_1_cat/randomization_1_quant_1_cat.html TG W G m ES i: Apps MC MyMC Login YouTube 30] Calendar Essential Commu... Reading List StatKey Randomization Test for a Difference in Means Exercise Hours (Male vs Female) Show Data Table Edit Data Upload File Change Column(s) Randomization method Reallocate Groups Generate 1 Sample Generate 10 Samples Generate 100 Samples Generate 1000 Samples Reset Plot Randomization Dotplot of X1 -x2 , Null hypothesis: #1 = #2 Original Sample 150 X1 - X2 = 3, n, = 20, n, = 30 OLeft Tail Two-Tail Right Tail samples = 4000 mean = -0.049 std. error = 2.308 LL 125 ... .... 100 5 10 1 15 20 25 30 12.4 75 Randomization Sample Show Data Table 0.025 x1 - X2 = 0.25, n1 = 20, n2 = 30 50 25 . .. OL - 8 -6 8 0 5 10 15 20 25 30 null = 0 10.75 4.417 Help Statkey v. 3.0.2 is written in JavaScript and should work well with any current browser including Chrome, Firefox, Safari, Opera, and Edge. Presentation Mode Statkey contains accessibility features, including screen reader support and keyboard navigation. O OFF Comments, feedback, accessibility issues, and bug reports can be sent to lock5stat@gmail.com. Statkey Project -....pdf Show All X