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Mathematics, 25.06.2019 01:20 jared5491
You are interested in purchasing a new car. one of the many points you wish to consider is the resale value of the car after 5 years. since you are particularly interested in a certain foreign sedan, you decide to estimate the resale value of this car with a 99% confidence interval. you manage to obtain data on 17 recently resold 5-year-old foreign sedans of the same model. these 17 cars were resold at an average price of $ 12 , 290 with a standard deviation of $ 700. what is the 99% confidence interval for the true mean resale value of a 5-year-old car of this model?
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