Mathematics, 05.05.2020 18:38 yqui8767

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 comma 740 with a standard deviation of $ 800. 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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