A family is relocating from St. Louis, Missouri, to California. Due to an increasing inventory of houses in St. Louis, i

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answerhappygod
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A family is relocating from St. Louis, Missouri, to California. Due to an increasing inventory of houses in St. Louis, i

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A family is relocating from St. Louis, Missouri, to California.Due to an increasing inventory of houses in St. Louis, it is takinglonger than before to sell a house. The wife is concerned and wantsto know when it is optimal to put their house on the market. Herrealtor friend informs them that the last 21 houses that sold intheir neighborhood took an average time of 60 days to sell. Therealtor also tells them that based on her prior experience, thepopulation standard deviation is 14 days. [You may find it usefulto reference the z table.]
a. What assumption regarding the population is necessary formaking an interval estimate for the population mean? multiplechoice:
Assume that the central limit theorem applies OR Assume that thepopulation has a normal distribution.
b. Construct the 90% confidence interval for the mean sale timefor all homes in the neighborhood. (Round intermediate calculationsto at least 4 decimal places. Round "z" value to 3 decimal placesand final answers to 2 decimal places.)
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