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Question

Suppose that a random sample of eighteen recently sold houses in a certain city has a mean sales price

of $275,000, with a standard deviation of $8000. Under the assumption that house prices are normally distributed, find a 90% confidence interval for the mean sales price of all houses in this community. Then complete the table below.


Carry your intermediate computations to at least three decimal places. Round your answers to the nearest whole number. (If necessary, consult a list of formulas.)


What is the lower limit of the confidence interval?

What is the upper limit of the confidence interval?

Top Answer

Lower limit :... View the full answer

IMG_20200211_103616.jpg

2 = 275, 00 0
here, , is not known, we use I-interval
S = 800 0
n= 18
CI = 90 %. = ) d = 0.1
df = n- 1 = 17
E
= 1.739
( from table )
C? = x +
S
= 275, 000 + 1.739 x
800 0
V18
275000 + 3279. 08985
(...

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