A Used Car Lot Owner Wanted to Estimate the Amount

question 4

Multiple Choice

A used car lot owner wanted to estimate the amount spent by customers during the summer months. She took a random sample of customers and recorded the amount they spent. A histogram
Showed the data was right-skewed so she took the log of each value and verified that the
Distribution of these values was more Normally distributed. What test/method should she use to
Estimate the mean amount spent during the summer months?

• A) Mann-Whitney Test
• B) Paired t-test
• C) Sign Test
• D) Data transformation and t-interval

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Definitions:

Conversion

The unauthorized act of possessing or disposing of someone else's property as if it were one's own, infringing the owner's rights.

Cashed Check

A check that has been presented to a bank or financial institution and exchanged for the equivalent amount in cash, indicating the check has been successfully processed.

Presentment Warranty

A guarantee made to the person who accepts or pays a negotiable instrument that certain facts are true as of the date of its transfer.

Alteration

A change or adjustment made to something, which can modify its appearance, function, or condition.