You Are Interested in Purchasing a New Car $12,580 \pm 1.746 ( 700 / \sqrt { 17 } )$

Multiple Choice

You are interested in purchasing a new car. One of the many points you wish to consider is the resale value of the car after 5 years. Since you are particularly interested in a certain foreign sedan,
You decide to estimate the resale value of this car with a 90% confidence interval. You manage to
Obtain data on 17 recently resold 5-year-old foreign sedans of the same model. These 17 cars were
Resold at an average price of $12,580 with a standard deviation of $700. What is the 90% confidence
Interval for the true mean resale value of a 5- year-old car of this model?

A) $12,580 \pm 1.746 ( 700 / \sqrt { 17 } )$
B) $12,580 \pm 1.746 ( 700 / \sqrt { 16 } )$
C) $12,580 \pm 1.645 ( 700 / \sqrt { 17 } )$
D) $12,580 \pm 1.740 ( 700 / \sqrt { 17 } )$