Exam 1 - 2009 (1)

Exam 1 - 2009 (1) - Name: Lab Exam 1A Univariate and...

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The spreadsheet Exam 1AM – 2009 contains a sample of used 2004 Honda Accord prices and related data. Before doing anything, save your file to the dropbox as: lastname-firstname Exam 1AM.xlsx . Now, complete the exercises below using these data. 1. Accord prices – univariate distribution. (5) a. First, sort the data by the variable Price in ascending order (smallest to largest prices). (9) b. Determine the means , medians , and standard deviations for the variables price and mileage using the Excel functions . (6) c. What do these means and standard deviations represent? Explain . (4) d. Interpret the mean price you’ve calculated. (4) e. Interpret the standard deviation of price you’ve calculated. (6) f. Create a 90% confidence interval estimate of the unknown population mean used 2004 Honda Accord price. (4) g. Write a sentence or two to interpret your 90% confidence interval estimate for the unknown population mean. Name:
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This note was uploaded on 12/08/2011 for the course ECON 312 taught by Professor Daniellass during the Winter '10 term at UMass (Amherst).

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Exam 1 - 2009 (1) - Name: Lab Exam 1A Univariate and...

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