View the step-by-step solution to:


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


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
= 1.739
( from table )
C? = x +
= 275, 000 + 1.739 x
800 0
275000 + 3279. 08985

Sign up to view the full answer

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question