Data 3.4 on page 209 describes a sample of n = 25 Mustang cars being offered for

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Data 3.4 on page 209 describes a sample of n = 25 Mustang cars being offered for sale on the Internet. Use the data in Mustang Price to construct a 95% confidence interval to estimate the mean Price (in $1000s) for the population of all such Mustangs. Find the 95% confidence interval two ways:
(a) Using percentiles of a bootstrap distribution
(b)
Using a normal distribution with SE estimated from a bootstrap distribution.


Data 3.4 on page 209

A statistics student, Gabe McBride, was interested in prices for used Mustang cars being offered for sale on an Internet site. He sampled 25 cars from the website and recorded the age (in years), mileage (in thousands of miles), and asking price (in $1000s) for each car in his sample. The data are stored in MustangPrice and the scatterplot in Figure 3.26 shows the relationship between the Miles on each car and the Price. Not surprisingly, we see a strong negative association showing the price of a used Mustang tends to be lower if it has been driven for more miles. The correlation between Price and Miles for this sample is r = −0.825.

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Statistics Unlocking The Power Of Data

ISBN: 9780470601877

1st Edition

Authors: Robin H. Lock, Patti Frazer Lock, Kari Lock Morgan, Eric F. Lock, Dennis F. Lock

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