For a random sample of 20 automobile models, we record the value ofthe model as a new car and the value after the car has beenpurchased and driven 10 miles.1 The difference betweenthese two is a measure of the depreciation on the car just bydriving it off the lot. Depreciation values from oursample of 20 automobile models can be found in the datasetCarDepreciation.
Click here for the dataset associated with this question.
(a) Find the mean and standard deviation of theDepreciation amounts inCarDepreciation.
Mean =$
Standard deviation =
(b) Use StatKey or other technology to create abootstrap distribution of the sample mean of depreciations.Describe the center and spread of this distribution.
Center =
Standard error =
(c) Use the standard error obtained in your bootstrapdistribution to find a 95% confidence interval for the mean amounta new car depreciates by driving it off the lot.
The interval is $ to
1New and used automobile costs were determined using2015 models on kellybluebook.com.
| Car | New | Used | Depreciation |
| Mazda3 | 17956 | 15326 | 2630 | |
| Buick Encore | 23633 | 21498 | 2135 | |
| Toyota Corolla | 16091 | 14761 | 1330 | |
| Chrevolet Tahoe | 45489 | 43463 | 2026 | |
| Chrevolet Equinox | 21596 | 19149 | 2447 | |
| Ford Fiesta | 14246 | 12220 | 2026 | |
| BMW 528i | 46227 | 44582 | 1645 | |
| Mitsubishi Mirage | 14013 | 11603 | 2410 | |
| GMC Yukon | 47295 | 45635 | 1660 | |
| Dodge Dart | 16139 | 13880 | 2259 | |
| Honda Accord Hybrid | 27124 | 25008 | 2116 | |
| Audi Q5 | 37521 | 35579 | 1942 | |
| Hyundai Elantra | 16807 | 14876 | 1931 | |
| Kia Sedona | 25710 | 22178 | 3532 | |
| Dodge Grand Caravan | 21337 | 17390 | 3947 | |
| Lexus CT | 30743 | 27182 | 3561 | |
| Lincoln MKZ Hybrid | 33522 | 30892 | 2630 | |
| Mercedez-Benz E-Class | 47178 | 42956 | 4222 | |
| Scion tC | 19748 | 18697 | 1051 | |
| MINI Countryman | 25130 | 23513 | 1617 | |
