Given the information below table two (The stats and the chart), fill out the information needed in the bullets for the housing variable only.
Confidence Interval Analysis: For the expenditure variable, select and run the appropriate method for estimating a parameter, based on a statistic (i.e., confidence interval method) and complete the following table (Note: Format follows Kozak outline):
Table 2: Confidence Interval Information and Results
- Name of Variable: Housing Cost
- State the Random Variable and Parameter in Words:
- Confidence interval method including confidence level and rationale for using it:
- State and check the assumptions for confidence interval:
- Method Used to Analyze Data:
- Find the sample statistic and the confidence interval:
- Statistical Interpretation:
Variable - Housing
Sample Standard Deviation= 3,463.40
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