Answer:
There is a difference in the mean time in years that the vehicles were kept by the original owner before being sold.
Explanation:
In this problem we need to test whether the two population mean time (in years) the vehicles were kept by the original owner are equal or not.
Use a two sample z-test to perform the analysis.
The hypotheses is defined as follows:
H₀: The two population means are equal, i.e. µ₁ - µ₂ = 0
Hₐ: The two population means are not equal, i.e. µ₁ - µ₂ ≠ 0.
The provided information:

Compute the z-statistic as follows:

The test statistic value is -3.06.
Compute the p-value of the test as follows:
![p-value=2* P(Z<-3.06)\\=2* [1-P(Z<3.06)]=\\2* (1-0.9989)\\=0.0022](https://img.qammunity.org/2021/formulas/mathematics/college/u7xc5qywxpp5ljnnjdd3k33s0l7c7t5wr3.png)
The p-value of the test is 0.0022.
Decision rule:
If the p-value is less than the significance level of the test then the null hypothesis will be rejected and vice-versa.
The p-value obtained is 0.0022.
This value is very small. So it will be rejected at any significance level.
So, the null hypothesis will be rejected.
Conclusion:
As the null hypothesis is rejected it can be concluded that there is a difference in the mean time in years that the vehicles were kept by the original owner before being sold.