Solve the Problem

question 62

Multiple Choice

Solve the problem. Where appropriate, round to the nearest tenth of a percent.
-The graph below shows how the average value of an automobile, which costs $20,000 new, Changes as it ages. Find the percent decrease in value as the car ages from 2 years old to 3 years Old. Round to the nearest percent. Solve the problem. Where appropriate, round to the nearest tenth of a percent. -The graph below shows how the average value of an automobile, which costs $20,000 new, Changes as it ages. Find the percent decrease in value as the car ages from 2 years old to 3 years Old. Round to the nearest percent. A) 0.1200% B) 0.1100% C) 12% D) 11%

Definitions:

Sample Mean

The arithmetic average of a set of sample observations, used as an estimate of the population mean.

Sampling Distribution

The framework of chances for a specific statistic, selected randomly.

Normally Distributed

A type of continuous probability distribution for a real-valued random variable, where the data tends to cluster around a central mean value, forming a bell curve.

Sampling Distribution

A distribution showing the probability of various outcomes for a specific statistic, coming from a random sample, and used for inferential purposes about the population.