6.68 Used car deals Refer to the previous exercise. Suppose carmax.com decides to highlight any used car
Question:
6.68 Used car deals Refer to the previous exercise. Suppose carmax.com decides to highlight any used car that is priced 1.5 standard deviations below the mean price as a special deal on its Web site.
a. If the distribution of used-car prices is normal, what percentage of used Audi A4s will be highlighted?
b. If the distribution of used-car prices is normal, what percentage of used Honda Civics will be highlighted?
(Do you need to know the mean and standard deviation for used Honda Civics?)
c. If the distribution of used-car prices is in fact skewed to the right, will the percentage of used Audi A4s that are highlighted most likely be smaller or larger than the one from part a? Explain.
Step by Step Answer:
Statistics The Art And Science Of Learning From Data
ISBN: 9781292164878
4th Global Edition
Authors: Alan Agresti, Christine A. Franklin, Bernhard Klingenberg