Question
A software engineer in Chicago, who is tired of the weather there, is interested in moving with her family to Sacramento, CA, where the weather
A software engineer in Chicago, who is tired of the weather there, is interested in moving with her family to Sacramento, CA, where the weather is better with, possibly, better career prospects. In making her decision, she is trying to get a sense of the real estate market there, particularly for 3 bedroom houses, and so approaches a real estate company for help. She is specifically interested in the average size (i.e. average square footage) of 3 bedroom houses there, as well as their average price. The real estate company has done studies of the housing market in various major cities, including Sacramento. For the latter, it has in its database a random sample of 813 houses where, for each house, there is information on several variables such as its area (sq footage), number of bedrooms, price etc. From this random sample, the real estate company extracts the data for 3 bedroom houses. This data is available in the file SacramentoHousePricesThreeBed.csv. a) What is the population of interest to the software engineer b) Which two variables are of interest to her in this population? c) Which two population means are of interest to her? d) Based on the data on 3 bedroom houses in Sacramento, provide a range of highly plausible estimates for each of the two quantities that are of interest to the engineer?
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