QUESTION 5 1 points Save Answer The housing market recovered slowly from the crisis of 2008. Realtors in one community h

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Question 5 1 Points Save Answer The Housing Market Recovered Slowly From The Crisis Of 2008 Realtors In One Community H 1 (83.23 KiB) Viewed 25 times

QUESTION 5 1 points Save Answer The housing market recovered slowly from the crisis of 2008. Realtors in one community have recently sampled 36 bides from potential buyers to estimate the average loss in home value. The sample showed the average loss from the peak in 2008 was $9560 with a standard deviation of $1500. ( If we were to begin work on a confidence interval for mean loss in value per home with this data, how many degrees of freedom would we have? (i) Given that critical value of t for a 95% confidence interval with the appropriate number of degrees of freedom is: for a 95% confidence interval for mean loss in value per home. t* = 2.0301, calculate the margin of error Do no rounding until you have your final answer. Then round that value to two decimal places. (iii) Once the margin of error is calculated, the endpoints of the 95% confidence interval can be determined. What is the left boundary (lower boundary) for the 95% confidence interval? Round your answer to two decimal places. What is the right boundary (upper boundary) for the 95% confidence interval? Round your answer to two decimal places. (iv) If the losses had a standard deviation of $750 instead of $1500, how would that affect the width of the confidence interval (assuming same level of confidence)? (choose the letter of the best answer) (a) the width of the confidence interval would stay the same (b) the width of the confidence interval would increase (c) the width of the fidenc would decrease (d) the width of the confidence interval would become 0