Statistical Analysis for Price of Commodore Car- myassignmenthelp

Question: Discuss about theStatistical Analysis for Price of Commodore Car. Answer: 21st November 2017 Dear Relative, I am happy to inform and advise you about the prices of Holden Commodore (6-cylinder) produced in either 2014 or 2015 and has been used for the last 2 or 3 years in Queensland State. To fully address your question on the best car used for 2 to 3 years and related in either 2014 or 2015, I collected information about cars with these characteristics and analyzed to provide the best advice for this concern. The prices of the car will depend on other various factors such as the Kilometers driven, the transmission type, colour and the seller. Overlooking all these factors, I will focus on the prices of 2014 2015 and specifically those used for 2 to 3 years. Therefore, based on this information, I will be able to confirm the average, range, minimum and maximum price of a Holden Commodore (6 cylinders) in Queensland state. The sample was obtained randomly, which makes the results generalizable to the entire population in question. Therefore, an acceptable probability of around 5% might lead to the wrong price specifications. Below is a histogram for the price ranges in 2014 and 2015 for Holden Commodore cars used for 2 to 3 years in Queensland. The histogram shown above shows the distribution of Holden Commodore car prices between 2014 and 2015. The price distribution is approximately normal with minimal indications of skewness. The average car price seems to be around $26, 000, a minimum of close to $18,000 and a maximum of $33,000. 10 cars were within the $25,000 to $27,000, which is price range with the highest frequency. Therefore, we can confidently state that the prices are approximately equally distributed around the mean. Since the price distribution is approximately normal, we will base our argument on mean statistic because of the median value of almost the same as the average value. As you are going to purchase a Holden Commodore car that has been used for 2 to 3 years, you should expect the 2014 and 2015 price to range around the price limits discussed above. Holden Commodore Car Price Mean $ 25,710 Minimum $ 17,900 Standard Deviation $ 3,962 25th Percentile $ 22,987 Range $ 15,090 Median $ 25,990 Inter-quartile Range $ 5,853 75th percentile $ 28,840 Count 40 Maximum $ 32,990 Based on the summary statistics in the above table, the average 2014 2015 price of a Holden Commodore car used for 2 to 3 years in $25,710. Therefore, you should expect to get a car price average value of $25,710, a minimum of $17,900 and a maximum of $32,990. This information was gathered from a sample of 40 randomly selected units. The distribution of the minimum, 1st quartile, median and 3rd quartile and the maximum prices shows that the data is normally distributed. The inter-quartile statistic of $5, 853 shows that the data has minimal variation. Holden Commodore car price of 2014 2015 has a standard deviation of $3,962 from the mean value. We can, therefore, conclude that 50% of the car prices are above the median value of $25,990, 25% below $22,987 and 25% above $28,840. From the above-described price of Holden Commodore car used for 3 to 4 years, you can make an unbiased decision on the amount of money you need to make a purchase. You can contact for further information.