SOLUTION: Suppose that a random sample of thirteen recently sold houses in a certain city has a mean sales price of $295,000, with a standard deviation of $13,000. Under the assumption that
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Question 323905: Suppose that a random sample of thirteen recently sold houses in a certain city has a mean sales price of $295,000, with a standard deviation of $13,000. Under the assumption that house prices are normally distributed, find a 95% 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.
What is the lower limit of confidence interval?
What is the upper limit of confidence interval?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Suppose that a random sample of thirteen recently sold houses in a certain city has a mean sales price of $295,000, with a standard deviation of $13,000. Under the assumption that house prices are normally distributed, find a 95% 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.
What is the lower limit of confidence interval?:::::287144
What is the upper limit of confidence interval?:::::302856
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Cheers,
Stan H.
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