Business Finance Homework Help

Need help improving the answers on each section. answers need to be a minimum of 1 paragraph.  There are 2 pages, it need to be 4 pages long

A. Miles per Gallon Comparison for 2016 & 2021 Hybrid Vehicles

Is there a significant difference in the average combined miles per gallon of 2016 hybrid cars and 2021 hybrid cars? That was the question posed that initiated the data driven solution. When customers go to a car dealership to purchase a fuel efficient vehicle, they are presented with the options of buying a new or used vehicle. This statiscal analysis will simplify that decision with assigning a number to the thirty most efficient 2016 & 2011 vehicles in the market. The comparison will be soley on availability and gas consumption per miles. 

B1. Describe the relevant data you collected 

The collection samples are the top thirty fuel efficient 2016 and 2021 hybrid vehicles in the U.S. market. The vehicles are ranked by fuel efficiency in terms of combined city and highway miles per gallon. The main source for the data gathering was the fueleconomy.gov government website. The information gathered is for vehicle classified as hybrids that operates with a gas and an electric motor. The data gathered is based on a simple premise, “new hybrid vs. used hybrid”, which one provides the financial benefit? 1. Describe an appropriate analysis technique that you used to analyze the data 

2 sample t-test.

C2. Include the output and any calculations of the analysis you performed 

Total MPG 1141 Total MPG 1404

Divided by 30 Samples 30 Divided by 30 Samples 30

Total Combined MPG for 2016 Vehicles 38.03 Total Combined MPG for 2021 Vehicles  46.8

C3. Justify why you chose this analysis technique

The 2-sample t-test provides a simple process and a direct comparison between the vehicle groups. It generates the average of the combines miles per gallon for the top 30 vehicles of the selected years. 

D1. Discuss the results of your data analysis

t-stat vs t-critical

D2.  Discuss the limitation(s) of your data analysis.

We don’t know each individuals budget to narrow or specify the samples by budget. We could have measured the fuel efficiency by passenger capacity or vehicle type. The electric cars were not part of the analysis due. Vehicle price, used vehicle miles that impact the needed maintenance 

D3. Recommend a course of action based on your results. 

The 2021 vehicles are more fuel efficient that 2016 cars.  Recommend to buy a newer hybrid vehicle compared to an older model. The results showed that newer models provide better mileage per gallon. The 2021 vehicles will be more expense but that cost can be offset by the maintenance expense incurred in the 2016 model.