A Realtor wants to estimate the mean price of houses in Mission Viejo, California. She collects a sample of 36 recent house sales, a portion of which is shown in the accompanying table; the complete data set, labeled MV_Houses, can be found on the text website. Assume that the population standard deviation is 100 (in $1,000s).
Construct and interpret 95% and 98% confidence intervals for the mean price of all houses in Mission Viejo, CA.
Prices (in $1,000s)
430
520
:
430