Confidence intervals and sample size

profileislandbuilt
Forum3.xlsx

Sheet1

Type Year Make Model Price MPG(CITY) MPG (HIGHWAY) Weight
variable type: qualitative variable type: quantitative variable type: qualitative variable type: qualitative variable type: quantitative variable type: quantitative variable type: quantitative variable type: quantitative
SUV 2021 Mazda CX-30 $22,795 25 33 3232
compact crossover 2021 Toyota rav4prime $29,458 36 40 5,530
SUV 2021 Chrysler Voyager $28,730 19 28 4,330
minivan 2020 kia Sedona $28,720 18 24 6,085
minivan 2020 Dodge grand caravan $29,025 17 25 4,510
passenger wagon 2020 Ford transit connect $28,315 24 26 3,689
SUV 2020 Volkswagen Tigwan $25,965 22 29 3,847
SUV 2019 kia Sorento $28,110 22 29 3,810
SUV 2020 Honda Odyssey $32,110 19 28 4,593
SUV 2021 Hyundai Palisade $33,665 19 24 4,284
sports car 2020 Bugatti La Voiture $3,250,000 9 14 4,400
SUMMARY BEFORE ADDING OUTLIER
mean $28,689 $22 $29 $4,391
standard deviation 2977.7926966873 5.5467708324 4.8579831206 863.2415652643
median $28,725 $21 $28 $4,307
SUMMARY AFTER ADDING OUTLIER
mean $321,536 $21 $27 $4,392
standard deviation $971,266 $7 $6 $819
median $28,730 $19 $28 $4,330
DISCUSSION
standard deviation 2977.7926966873
mean= 28689.3
new sd= 1488.8963483437
PROBABILITIES
P(X<(28689.3-500))=P(X<28189.3) 36.85% the probability that the price for the next 4 cars that are sampled will be less than $ 500 below the mean is 36.85%
P(X>(28689.3+1000)=1-P(X<29689.3) 25.09% the probability that the price for the next 4 cars that are sampled will be higher than $1000 above the mean is 25.09%
P(X=28689.3) 0.03% the probability that the price for the next 4 cars that are sampled will be equal to the mean is 0.3%
P(28689.3-1500<X<28689.3+28689.3)= P(27189.3<x<30189.3) 68.63% the probability that the price for the next 4 cars that are sampled will be $1500 within the mean is 68.63%

Without supercar

Without supercar
Mean 28689.3
Standard Error 941.6607321347
Median 28725
Mode ERROR:#N/A
Standard Deviation 2977.7926966873
Sample Variance 8867249.34444445
Kurtosis 1.2469446572
Skewness -0.3237289483
Range 10870
Minimum 22795
Maximum 33665
Sum 286893
Count 10
Confidence Level(95.0%) 2130.1845701243

With Supercar

With Supercar
Mean 321535.727272727
Standard Error 292847.665977757
Median 28730
Mode ERROR:#N/A
Standard Deviation 971265.828779546
Sample Variance 943357310154.818
Kurtosis 10.9997518649
Skewness 3.3165733432
Range 3227205
Minimum 22795
Maximum 3250000
Sum 3536893
Count 11
Confidence Level(95.0%) 652505.262278539