In a recent sample of 84 used car sales costs, the sample mean was $6,425 with a standard deviation of $3,156. Assume
the underlying distribution is approximately normal.
Which distribution should you use for this problem? Explain your choice.
Define the random variable
Construct a 95% confidence interval for the population mean cost of a used car.
State the confidence interval.
Sketch the graph.
Calculate the error bound.
Explain what a “95% confidence interval” means for this study.