The mean age of all 649used cars for sale in a newspaper one Saturday last month was 7.8years, with a standard deviation of 7.4years. The distribution of ages is right-skewed. For a study to determine the reliability of classified ads, a reporter randomly selects 50of these used cars and plans to visit each owner to inspect the cars. He finds that the mean age of the 50cars he samples is 8.3years and the standard deviation of those 50cars is 5.6years. Complete parts a through c.
From the problem statement, which of the values 7.8, 7.4, 8.3, and 5.6 are parameters and which are statistics?
Find muμ, sigmaσ, s, and x.
Are the conditions for using the CLT (Central Limit Theorem) fulfilled?
What would be the shape of the approximate sampling distribution of a large number of means, each from a sample of 505