document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=310013>Question 310013</A>: <I><SPAN STYLE=\"word-break: break-all;\"> An important factor in selling a residential property is the number of people who look through the home. A sample of 15 homes recently sold in the Buffalo, New York, area revealed the mean number looking through each home was 24 and the standard deviation of the sample was 5 people. Develop a 98 percent confidence interval for the population mean. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #221746 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=221746\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> An important factor in selling a residential property is the number of people who look through the home. <BR>\n" );
document.write( "A sample of 15 homes recently sold in the Buffalo, New York, area revealed the mean number looking through each home was 24 and the standard deviation of the sample was 5 people.<BR>\n" );
document.write( "Develop a 98 percent confidence interval for the population mean.<BR>\n" );
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document.write( "x-bar = 24<BR>\n" );
document.write( "E = invT(0.985,14)*5/sqrt(15) = 3.1176<BR>\n" );
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document.write( "98% CI: 24-3.1176 < u < 24+3.1176<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );