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arlinguillen arlinguillen
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According to Edmunds.com, the average price that shoppers paid for a new car is $30,320. Assume that the standard deviation for the price shoppers pay is $8,740. A random sample of 38 people who purchased a new car paid an average of $32,700. Use a 98% confidence interval to test the validity of claim made by Edmunds.com.
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Business Statistics


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SwaggySwaggy
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Because this confidence interval does contain $30,320, the claim made by Edmunds.com is validated by this sample.

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