Question
A family is relocating from St. Louis, Missouri, to California. Due to an increasing inventory of houses in St. Louis, it is taking longer than
A family is relocating from St. Louis, Missouri, to California. Due to an increasing inventory of houses in St. Louis, it is taking longer than before to sell a house. The wife is concerned and wants to know when it is optimal to put their house on the market. Herrealtorfriend informs them that the last 22 houses that sold in their neighborhood took an average time of 190 days to sell. Therealtoralsotell them that based on her prior experience, the population standard deviation is 72 days.Assume the number ofdasto sell a house follows a normal distribution.
Find the upper bound of the 95% confidence interval for the mean sale time for all homes in the neighborhood.(Roundintermediaecalculationsto 2 decimal places. Round the z-value and final answer to 2 decimal places.)
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