After reviewing the packages and cost comparison with those packages, for the intent of the data I would recommend that the Silver Package is selected to provide the best data for the need. I am 95% confident that using a sample size of 1,000 listings with a margin of error of $7750 will provide the data needed for the agents to effectively price homes within the Northeast region. Using a larger sample size eliminates the I larger range without having to include additional data within the scope of research.

If we use a smaller sample size we increase the margin of error by $49,000, meaning that the margin of error on a $310,000 home can range from $285,500 to $334,500 versus using a sample size of 1000 which has a range of $302,500 to $317,500. The margin of error is a range identified as lowerbound (sample mean minus the margin of error) and upperbound (sample mean plus the margin of error).

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.