Question 469320
Suppose that a random sample of nineteen recently sold houses in a certain city has a mean sales price of $300,000 , with a standard deviation of $8000 . 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.
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x-bar = 300,000
ME = 1.96*8000/sqrt(19) = 3597.24
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95% CI: 300,000-ME < u < 300,000+ME
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95% CI: 296,402.76 < u < 303,597.24
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Cheers,
Stan H.
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What is the lower limit of confidence level? 
What is the upper limit of confidence level?