in 1965, the mean price of a new car was $2650 and the standard deviation was $1000. in 2019, the mean was $36,700 and the standard deviation was $9000. if a ford mustang cost $2300 in 1965 and $34,000 in 2019, in which year was it more expensive relative to other cars?

Question

in 1965, the mean price of a new car was $2650 and the standard deviation was $1000. in 2019, the mean was $36,700 and the standard deviation was $9000. if a ford mustang cost $2300 in 1965 and $34,000 in 2019, in which year was it more expensive relative to other cars?

Accepted Answer

The cars were moreexpensive in 2019From given information,Meanprice of the car in 1965 = $2,650Standard deviation, s = $1,000Mean price of the car in 2019 = $36,700Standard deviation in 2019, s = $9,000Costin 1965 = $2,300Cost in 2019 = $34,000Now,z score= [ X - mean ] ÷ sSo, In 1965z score = [ $2,300 - $2,650] ÷ 1,000= -0.35In 2019,z score = [ $34,000 - $36,700 ] ÷ 9,000= -0.3Since, the standard scorein 2019 is higher than in 1965So, the cars were more expensive in 2019Therefore, the cars were moreexpensivein 2019Learn more about thestandard deviationhere:brainly.com/question/20553308#SPJ1...

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Solved:

in 1965, the mean price of a new car was $2650 and the standard deviation was $1000. in 2019, the mean was $36,700 and the standard deviation was $9000. if a ford mustang cost $2300 in 1965 and $34,000 in 2019, in which year was it more expensive relative to other cars?

in 1965, the mean price of a new car was $2650 and the standard deviation was $1000. in 2019, the mean was $36,700 and the standard deviation was $9000. if a ford mustang cost $2300 in 1965 and $34,000 in 2019, in which year was it more expensive relative to other cars?