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I need help completing this week's assignment for my statistic class. It is a critical thinking assignment. Please show me how to perform the
I need help completing this week's assignment for my statistic class. It is a critical thinking assignment. Please show me how to perform the calculations on excel, such as the formulas that way I can learn. Below the questions you will find the data of the 200 cars.
An expert who works for a car magazine obtained random data (rounded to the nearest thousand) among two categories of used or new cars:
DomesticForeignThe expert would like to understand sales based on list price (rounded to the nearest thousand dollars), sale price (rounded to the nearest thousand dollars), and number of days it takes to sell each car. The complete data set is in the file named Cars.
Managerial Report
- Descriptive statistics (mean, median, range, standard deviation, and coefficient of variation) to summarize each of the three variables for the all Domestic cars. Use z-scores to determine if there any outliers in the data set for any of the three variables. If there are any outliers in any category, please list them and state for which category they are an outlier. If a result is an outlier, state whether it is below or above the mean.
- Descriptive statistics (mean, median, range, standard deviation, and coefficient of variation) to summarize each of the three variables for the all Foreign cars. Use z-scores to determine if there any outliers in the data set for any of the three variables. If there are any outliers in any category, please list them and state for which category they are an outlier. If a result is an outlier, state whether it is below or above the mean.
- Compare your summary results from #1 and #2. Discuss any specific statistical results that would help the car expert understand the car market.
- Develop a 98% confidence interval estimate of the population mean sales price and population mean number of days to sell for Domestic cars. What is the Margin of error? What are the lower (or left) and upper (or right) endpoints of the confidence interval? Interpret your results.
- Develop a 98% confidence interval estimate of the population mean sales price and population mean number of days to sell for Foreign cars. What is the Margin of error? What are the lower (or left) and upper (or right) endpoints of the confidence interval? Interpret your results.
- Assume the car expert requested estimates of the mean number of days to sell for the Domestic cars with a margin of error of seven days and the mean number of days of Foreign cars with a margin of error of eight days. Using 98% confidence, how large should the sample sizes be for each?
- Suppose a Domestic car has a list price of $30,000 and a Foreign car has a list price of $30,000. What is your estimate of the final selling price (based on the percent difference for the sale and list price) and number of days required to sell each of these cars?
Domestic CarsForeign Cars
CarList Price in KSale Price in KDays to SellList Price in KSale Price in KDays to Sell
198.34036.734.139
23430.255251.526
323.919.34811.19.627
429.728.81248.145.952
526.724.1286.84.553
631.231.2307.56.539
722.720.22471.570.859
8844221.721.751
918.314.92959.559.140
1043.942.91619.117.715
1149.147.1236764.346
128.75.41779.276.162
1323.218.33029.324.932
1417.113.41569.16655
1515.314.54063.958.915
1639.735.23154.551.246
1712.49.22761.456.420
1842.340.35870.869.824
192524.21929.228.45
2036.234.83026.623.944
2113.912.13711.7958
2218.715.64312.28.511
2339.536.64451.650.636
242322.15548.848.424
2532314033.932.431
2634.933.12282.377.851
2743.639.25675.971.821
286.94.72844.139.717
2943.641.84730.527.735
30129.64456.552.319
318.76.11388.38818
327.25.31551.850.846
3339.6364725.721.68
3416.516.22134.233.142
3543.940.84575.875.324
3647.646.2575.573.525
3721.321444039.655
3829.526.966766.250
3918.616.247161522
4046.6466050.246.140
4186.11485.183.852
4211.28.6137371.222
4333.832.6281511.637
4410.17.23012.910.632
4513.913.61526.32227
4648.444.52829.828.516
4713.513.14665.762.44
486.44.24521.819.443
4938.338.23744.340.59
5038.537.74078.677.261
5136.936.4435049.245
5218.614.12557.153.823
534.53.14746.645.658
5425.422.53882.278.666
5559.957.35861.158.361
564440.5538178.935
5719.818.31877.175.344
5812.610.12034.429.423
593531.8112322.54
6052.249.94954.953.957
6138.636.65082.281.366
622423.3187974.624
634544.13123.519.328
6452.947.91676.272.562
6552.350.6303331.551
6650.947.52548.746.749
6718.316.353433.827
6834.329.55575.87419
6950.148.61735.23522
7057.456.44922.922.464
719.26.55882.879.329
7236.933.33563.863.850
7341.138.23646.441.550
7443.340.7658.757.837
7546.842.7286463.357
7651.7471187.186.150
7713.38.7197570.638
7857.354.3141714.431
7959.654.6939.636.413
8018.314.93363.862.923
8142.1415925.522.224
8213.89.24979.876.627
8332.931.3713.111.521
845452.82534.332.749
8534.431.2971.268.516
8623.622.64229.525.447
874.74523.421.67
885958.23812.69.539
8926.524.53915.51416
9034.530.8486059.44
9124.520.55620.917.112
923.91.93481.879.845
9354.8318984.156
9458.358.13038.13539
9533.632.11815.512.751
9645.642.7960.358.421
9738.834.91864.263.18
9835.634.24752.249.518
991712284.93.326
1001815.55141.341.218
10158.555.45064.663.519
10220.919.94849.645.647
10332.532.1646.442.441
1041914.43551.84954
1054.442778.877.660
10667.667.43955.254.721
10759.254.3572117.343
1082521.72532.530.567
10955.752.86243.5433
11025.723.96211.99.565
11149.144.72915.110.414
11267.766.32850.148.745
11345416581.279.736
11448.643.66383.879.135
11525.925.7556865.128
11637.8375054.450.814
11725.720.83154.551.412
11827.324.8514.91.357
1196564.23030.72950
12058.356.9574540.460
1218.64.66220.417.411
1224037332423.95
1233.932079.178.453
12421.219.35422.818.231
1253635.1236665.824
12636.233.85188.185.631
12767.466.3178.63.860
12824211938.335.160
129108.84952.149.149
13036.436.41123.720.76
13138.437.54667.163.338
13232.7284463.461.333
13311.9111145.94110
1348.75.51777.374.425
13513.510.53346.542.627
13618.314.81263.96056
1373.833783.281.362
13867.365.3535.41.755
13924.722.25396.461
14029291678.274.266
14112.411.45427.325.33
14226.421.986762.814
14324.219.27084.182.144
14459556077.773.915
14518.716.74051.751.438
14629.628.4377974.533
14746.946.5695046.110
14859.957.71030.529.729
14938.735.63349.849.747
15035.732.24559.859.117
15134.433.66017.415.767
1523227.14332.131.254
15322.818.14341.138.154
15416.916.25654.153.159
15594.22813.610.862
15663.859.4464339.345
15710.25.35485.882.956
15852.851.84835.632.653
15942.139.6222522.79
1609.67.2588.84.450
16117.814.25941.839.526
1624846.33020.419.423
16367.3631160.35922
1642925656864.568
16513.911.3496561.366
16618.216.13511.394
16754.953.56737.532.922
16878.876.56788.387.730
16910.58.41762.858.228
17021.717.82471.869.259
1717.97.12986.584.653
17225.123.83471.867.346
17322.417.52347.145.265
17462.858.31889.385.711
17573.168.387570.128
17621.120.71869.666.811
17750.846.44187.483.516
17818.518.44324.722.615
1794136.71173.972.614
18056.953.65080.679.115
18160.560.31389.18756
18256.955.1425554.371
18320171324.722.457
18419.518.254.82.339
18525.520.95384.281.814
18650.4501586.983.519
18773.170.84185.78139
18818.515.75440.838.951
18971.366.4457.253.556
1906966.9266.55.541
19160.857.81579.176.129
19219.718.71314.612.21
19321.91911.10.82
1949.48.625414
19534.932.6584.930
19621.921.313272218
19727.423.31214.811.911
19814.311.7154.453.615
1995.23.8389.587.1100
20014.310.9711.57.614