You Are Interested in Purchasing a New Car $12,580 \pm 1.746 ( 700 / \sqrt { 17 } )$

question 58

Multiple Choice

You are interested in purchasing a new car. One of the many points you wish to consider is the resale value of the car after 5 years. Since you are particularly interested in a certain foreign sedan,
You decide to estimate the resale value of this car with a 90% confidence interval. You manage to
Obtain data on 17 recently resold 5-year-old foreign sedans of the same model. These 17 cars were
Resold at an average price of $12,580 with a standard deviation of $700. What is the 90% confidence
Interval for the true mean resale value of a 5- year-old car of this model?

• A) \(12,580 \pm 1.746 ( 700 / \sqrt { 17 } )\)
• B) \(12,580 \pm 1.746 ( 700 / \sqrt { 16 } )\)
• C) \(12,580 \pm 1.645 ( 700 / \sqrt { 17 } )\)
• D) \(12,580 \pm 1.740 ( 700 / \sqrt { 17 } )\)

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Definitions:

Catharsis

The process of releasing, and thereby providing relief from, strong or repressed emotions, often through art, drama, or other forms of expression.

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Behavior aimed at causing harm or pain to others, whether physically or psychologically.

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A situation where an individual or family struggles to meet their financial obligations due to lack of income, high expenses, or both.

Violence

Physical force exerted for the purpose of causing damage or injury to people or property.