Solved

A Computer Package Was Used to Generate the Following Printout X=X =

Question 107

Multiple Choice

A computer package was used to generate the following printout for estimating the mean sale price of homes in a particular neighborhood. X=X = sale_price

SAMPLE MEAN OF X =46,600= \quad 46,600
SAMPLE STANDARD DEV =13,747= 13,747
SAMPLE SIZE OF X =15= \quad 15
CONFIDENCE =95= \quad 95

UPPER LIMIT =54,213.60= 54,213.60
SAMPLE MEAN OF X =46,600= \quad 46,600
LOWER LIMIT =38,986.40= 38,986.40

A friend suggests that the mean sale price of homes in this neighborhood is $48,000. Comment on your friend's suggestion.


A) Your friend is correct, and you are 100% certain.
B) Your friend is correct, and you are 95% certain.
C) Based on this printout, all you can say is that the mean sale price might be $48,000.
D) Your friend is wrong, and you are 95% certain.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions