Use the table to answer all of the questions. Please arrange the answers in a di

Question

Use the table to answer all of the questions.

Please arrange the answers in a direct and easier to understand fashion. For example:

1. Example Answer

2. Example Answer 2

3. Ex Ans...

etc.

TABLE 1.6 FUEL ECONOMY INFORMATION FOR 10 AUTOMOBILES City Highway Size Cylinders MPG MPG Large Compact Midsize Large Compact Midsize Fuel Premium Premium Regular Premium Regular Regular Diesel Regular Regular Regular Car Audi A8 BMW 328Xi Cadillac CTS Chrysler 300 Ford Focus Hyundai Elantra 19 25 25 6 17 4 4 13 24 25 Jeep Grand Cherokee Midsize Pontiac G6 Toyota Camry Volkswagen Jetta 26 Compact Midsize Compact 15 31 29 4 21 1. What is the population of interest for this study? 2. What is the population size (N)? 3. What is the sample size (n)? 4. How many variables are associated with the dataset? 5. Which variables are (i) Quantitative and why? i Qualitative and Why? 6. Is the dataset a time-series or cross-sectional? Why? 7. What percentage of the cars are Compact? Hint: use the following coding scheme. Compact-coded = 1 if a car is Compact. = 0 if otherwise. (i.e. a car is Large or Midsize 8. What percentage of the cars use Regular gas? Hint: use the following coding scheme: Regular-coded 1 if a car uses Regular gas = 0 if otherwise. (i.e. a car uses Premium or Diesel. 9. You are paid to find the average highway MPG of all cars, regardless of brand. a. What is the parameter of interest for this study? b. Which 'statistic would you use for making inference about the parameter? c. Discuss briefly the inferential process. Hint: Highlight the key ideas of statistical inference in your discussion

Explanation / Answer

1) All passenger 4 wheeler cars

2) Number of cars

3) Sample size = 10 ( number of cars in used for this anaysis)

4) Total number of variables is 6 i.e. car, size,cylinders,city MPG, Highway MPG, Fuel

5) Cylinders, City MPG and HIghway MPG are quantitative data because we can measure it

Car,Size and Fuel are qualitative data because we cannot measure it

6) It is not a time series data. It is a cross sectional data as it is observed at same point of time.

7) 40%. Total no of compact = 4 .Sample size is 10. So % = 4/10 *100 = 40%

8) 60%

9) Parameter = mean

t statistic

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