Business, 02.01.2020 18:31 Jeremiahcornelis

You are interested in purchasing a new car and have done some research. one of the many points you wish to consider is the resale value of the car after 5 years. you wish to estimate the resale value of the one that piques your interest with a 99% confidence interval. in your research, you obtain data on 17 recently resold 5-year-old sedans of the same model you wish to purchase. these 17 cars were resold at an average price of $12,500 with a standard deviation of $700. what is the 99% ci for the true mean resale value?

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