Answer:
Car were more expensive in 2011
Explanation:
Data provided in the question:
Mean price of the car in 1965 = $2,650
Standard deviation, s = $1,000
Mean price of the car in 2011 = $30,500
Standard deviation in 2011, s = $9,000
Cost in 1965 = $2,300
Cost in 2011 = $28,000
Now,
z score = [ X - mean ] ÷ s
Therefore,
In 1965
z score = [ $2,300 - $2,650] ÷ 1,000
= -0.35
In 2011
z score = [ $28,000 - $30,500 ] ÷ 9,000
= -0.278
Since,
The standard score in 2011 is higher than in 1965
Hence,
Car were more expensive in 2011
