Confidence intervals and sample size Responses

islandbuilt
RESPONSE2.xlsx

Sheet1

Vehicles Type/Class Year Make Model Price MPG (City) MPG (Highway) Drive Type
Qualitative Quantitative Qualitative Qualitative Quantitative Quantitative Quantitative Qualitative
SUV 2021 Hyundai Genesis GV80 $ 48,900.00 20 21 All Wheel Drive
Hybrid/SUV 2021 Lexus GX $ 58,665.00 16 20 All Wheel Drive
Coupe 2017 Honda Accord EX $ 16,791.00 27 36 2 Wheel Drive-Front
Coupe 2014 Chevrolet Corvette $ 38,990.00 15 23 2 Wheel Drive-rear
Coupe 2020 Toyota Supra $ 52,777.00 24 31 2 Wheel Drive-rear
SUV 2021 Volkswagen Atlas $ 43,320.00 16 22 2 Wheel Drive-Front
Sedan 2020 BMW M340i $ 50,998.00 22 30 All Wheel Drive
Coupe 2020 Chevrolet Camaro LT $ 27,996.00 19 29 2 Wheel Drive-rear
Coupe 2020 BMW M8 $ 119,994.00 15 21 All Wheel Drive
Coupe 2020 Nissan GT-R $ 109,706.00 16 22 All Wheel Drive
Sports Car 2006 Maserati BirdCage 75th $ 3,000,000.00 7 12 All Wheel Drive
Before Adding Outlier DATA
Mean: $ 56,813.70 19 25.5
Median: $ 49,949.00 17.5 22.5
STD: 33061.4874137736 4.18993503 5.5226805086
After Adding Outlier Data
Mean: $ 324,376.09 17.9090909091 24.2727272727
Median: $ 50,998.00 16 22
STD: 887958.174169195 5.375026427 6.6346199453
56,813,70 Average under 6
p 0.6
q 0.4
P(x=4) 11.15% Exactly 4
P(x<5) = P (x ≤ 5-1) = P(x ≤ 4) 16.62% Fewer than 5
P (x > 6)=1-p(x≤ 6)=1-p(x≤ 6) 38.23% More than 6
P(x≥4)=1-P(x≤ 4-1)=1-P(x≤ 3) 94.52% At least 4
Week 4
New SD 16530.7437068868
1 P(X< 56,313) mean minus $500 0.4879351629 (= 48.79%)
2 P(X>57,813) mean Add $1000 0.4758982201 (=47.58%)
3 P(X=56,813) 0.0000241334 (= 0%)
4 P(55,313 <X<58,313) 0.0723008289 (=7%)
$ 55,313.70 (mean minus 1500)
$ 58,313.70 (mean add 1500)
MEAN = 56,813.70 T CONFIDENCE INTERVAL PROPORTIONAL CONFIDENCE INTERVAL
SD = 33061.48742 T= 2.2621571628 Z- critical values 1.9599639845
n = 10 SD/√n= 10454.9603060514 p-hat * q-hat= 0.24
P = 0.6 95% CONFIDENCE LEVEL= 23650.7633431052 /n 0.024
Q = 0.4 UPPER CONFIDENCE LEVEL= $ 80,464.46 SQRT (0.024) 0.1549193338
LOWER CONFIDENCE LEVEL= $ 33,162.94 Z = 0.3036363149
ALPHA = α (1-0.25=0.975) UPPER CONFIDENCE LEVEL= 0.9036363149 90%
degrees of freedom (DF) (10-1=9) LOWER CONFIDENCE LEVEL= 0.2963636851 30%

Sheet 2 (W_O Supercar)

W/O SuperCar
Mean 57693
Standard Error 11647.587009286
Median 50998
Mode ERROR:#N/A
Standard Deviation 34942.7610278581
Sample Variance 1220996548.25
Kurtosis 0.1230751271
Skewness 1.0471267667
Range 103203
Minimum 16791
Maximum 119994
Sum 519237
Count 9
Confidence Level(95.0%) 26859.3838085639

Sheet 3 (With SuperCar)

With Supercar
Mean 351923.7
Standard Error 294415.077482457
Median 51887.5
Mode ERROR:#N/A
Standard Deviation 931022.222339516
Sample Variance 866802378490.011
Kurtosis 9.965500215
Skewness 3.1549042033
Range 2983209
Minimum 16791
Maximum 3000000
Sum 3519237
Count 10
Confidence Level(95.0%) 666013.176362728