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The owner of a new car dealership claims the average number of days it takes his...

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Statistics

The owner of a new car dealership claims the average number ofdays it takes his dealership to sell a Chevrolet Aveo is 50 days. Arandom sample of 50 cars had a mean time on the dealer’s lot of 64days. Assume the population standard deviation to be 7.0 days. Findthe 95% confidence interval estimate of the population mean.State the Margin of Error, Best Point Estimate and Includethe written statement

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Solution Given thatPoint estimate sample mean 64Population    See Answer
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