A sample of 101 single family homes sold recently gave the mean price of homes in a certain area equal to $379, 750. The

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answerhappygod
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A sample of 101 single family homes sold recently gave the mean price of homes in a certain area equal to $379, 750. The

Post by answerhappygod »

A sample of 101 single family homes sold recently gave the mean
price of homes in a certain area equal to $379, 750. The sample
standard deviation was S = $48, 500. (i) Construct a 99% confidence
interval for the mean price of all single family homes in the area.
(ii) Based on the confidence interval you found, can you make the
claim that the mean price of single family homes in the area is
less than $400, 000? Explain.
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