After looking through all the different packages that are offered, I was able to calculate confidence intervals for each package. Starting with the bronze package, this samples 100 homes with a margin of error of $24,500. With the bronze package in the Northeast, I am 95% confident the true mean listing price of the homes is between $285,500 and $324,500. The silver package consisted of a sample of 1000 listings. This package also has a margin of error of $7750, but comes with a cost of $10,000. This is significantly higher than the $2000 bronze package. I am 95% confident the true mean of the Northeast listing price homes is between $302,250 and $317,750. Last is the gold package which samples 4000 different listing but comes with a large cost of $25,000. Although it is high in cost, the gold package also offers a low margin of error being $3,900. I am 95% confident the true mean of the Northeast listing price homes is between $306,100 and 313,900. After reviewing all of the packages I would recommend the silver package as I see this as the best fit for your company. I think that the silver package offers a smaller margin of error, while still being cost effective. Although the gold package is the most precise since it has the lowest margin of error, it is not cost effective being that they charge $25,000.

Answer the following questions:

For your response posts to your peers, choose two different confidence intervals for your responses.

Do you think the agents would prefer a different confidence interval than their management?

What advantages and disadvantages would there be in having different confidence intervals for the agents? Explain your thought process and reasoning in your response.