Question
Suppose that a random sample of eighteen recently sold houses in a certain city has a mean sales price of$285,000, with a standard deviation of$9000.
Suppose that a random sample of eighteen recently sold houses in a certain city has a mean sales price of$285,000, with a standard deviation of$9000. Under the assumption that house prices are normally distributed, find a90% confidence interval for the mean sales price of all houses in this community. Then find the lower limit and upper limit of the90% confidence interval.
Carry your intermediate computations to at least three decimal places. Round your answers to the nearest whole number. (If necessary, consult alist of formulas.)
Lower limit: $_____
Upper limit: $ _____
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