Confidence Intervals - House Prices
Not what you're looking for?
Please solve attached.
Suppose that a random sample of fourteen recently sold houses in a certain city has a mean sales price of $280,000, with a standard deviation of $9000. Under the assumption that house prices are normally distributed, find a 90% confidence interval for the mean sales price of all houses in this community.
Carry your intermediate computations to at least three decimal places. Round your answers to the nearest whole number.
Purchase this Solution
Solution Summary
This solution calculates the confidence interval for the random sample of fourteen recently sold houses using the standard deviation and mean sales price. All steps and workings are shown.
Purchase this Solution
Free BrainMass Quizzes
Measures of Central Tendency
This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.
Terms and Definitions for Statistics
This quiz covers basic terms and definitions of statistics.
Measures of Central Tendency
Tests knowledge of the three main measures of central tendency, including some simple calculation questions.
Know Your Statistical Concepts
Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.