Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
i need part b please A family is relocating from St. Louis, Missouri, to California. Due to an increasing inventory of houses in St. Louis,
i need part b please
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. Her realtor friend informs them that the last 23 houses that sold in their neighborhood took an average time of 165 days to sell . The realtor also tells them that based on her prior experience, the population standard deviation is 82 days. (You may find it useful to reference the z table.) a. What assumption regarding the population is necessary for making an interval estimate for the population mean? Assume that the central limit theorem applies. Assume that the population has a normal distribution b. Construct the 99% confidence interval for the mean sale time for all homes in the neighborhood (Round final answer to 2 decimal places.) Confidence interval to
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/668fae49505c5_296668fae48e39b9.jpg)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started