quiz_04_06apr2011_solutions

quiz_04_06apr2011_solutions - Name: Assigned TF and Section...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Name: Assigned TF and Section time: Statistics 100 Quiz 4 Wednesday 6 April 2011 There are three problems on the quiz. The third problem is on the back page. Suppose home prices in a city are approximately Normally distributed with a standard deviation of = $25 , 000 . A real estate agent takes a random sample of n = 25 homes and finds a sample average price of x = $208 , 000 . 1. (8 points) Calculate a 95% confidence interval for the population average home price in the city. x z 1- . 05 / 2 n 208000 1 . 96 25000 25 208000 9800 (198200 , 217800) We are 95% confident that the population average house price is in the interval ($198 , 200 , $217 , 800) . 2. (6 points) Calculate a 90% confidence interval for . We can use the same equation as above. The only part that needs to change is the z value. Instead of using z . 975 , we use z . 95 : x z 1- . 10 / 2 n 208000 1 . 64 25 , 000 25 208000 8200 (199800 , 216200) Page 1 of 2 Name:...
View Full Document

This note was uploaded on 03/14/2012 for the course STATS 100 taught by Professor Grandal during the Spring '11 term at Harvard.

Page1 / 2

quiz_04_06apr2011_solutions - Name: Assigned TF and Section...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online