SOLUTION: A study was done to determine the average number of homes that a homeowner owns in his or her lifetime. For the 50 homeowners surveyed, the sample average was 3.8 amd the sample st

Question 437869: A study was done to determine the average number of homes that a homeowner owns in his or her lifetime. For the 50 homeowners surveyed, the sample average was 3.8 amd the sample standard deviation was 1.5. calculate the 95% confidence interval for the true average number of homes that a person owns in his or her lifetime.
Am i on the right track- > n= 50 standard dev = 1.5 Xbar= 3.8
My computation- (E= Z a/2 * st dev / sq rt of n)
1.67 (z score) * 1.5/ sq rt 50 = 0.354260497..... lost from here = (
Thanks for ANY help
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A study was done to determine the average number of homes that a homeowner owns in his or her lifetime. For the 50 homeowners surveyed, the sample average was 3.8 amd the sample standard deviation was 1.5. calculate the 95% confidence interval for the true average number of homes that a person owns in his or her lifetime.
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x-bar = 3.8
ME = zs/sqrt(n) = 1.96 * [1.5/sqrt(50)] = 0.4158
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95% CI: 3.8-0.4158 < u < 3.8+0.4158
95% CI: 3.3842 < u < 4.2158
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Cheers,
Stan H.
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