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Task 6 Descriptive Statistics Table - Sold Price Mean 695.0733 Standard Error 63.17099 Median 620 Mode 445 Standard Deviation 423.7639 Sample Variance 179575.8 Kurtosis 10.1749
Task 6 Descriptive Statistics Table - Sold Price Mean 695.0733 Standard Error 63.17099 Median 620 Mode 445 Standard Deviation 423.7639 Sample Variance 179575.8 Kurtosis 10.1749 Skewness 2.672295 Range 2518 Minimum 132 Maximum 2650 Sum 31278.3 Count 45 a) Using the descriptive statistics table obtained in Task 4 determine the point estimate of the mean "Sold Price" of the population of properties. b) Determine a 95% confidence interval estimate of the mean "Sold Price" of the population of properties. c) Provide a brief explanation of the meaning of the confidence interval estimate obtained in part b. d) If the population mean "Sold Price" is actually 650($000), would you consider the interval estimate obtained in part b to be satisfactory? Explain why or why not
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