Suppose the standard deviation of home price losses had been $3000, as in Exercise 8? What would
Question:
Exercise 8
In the previous exercise, you found a 95% confidence interval to estimate the average loss in home value.
Previous Exercise
The housing market has recovered slowly from the economic crisis of 2008. Recently, in one large community, realtors randomly sampled 36 bids from potential buyers to estimate the average loss in home value. The sample showed the average loss from the peak in 2008 was $9,560 with a standard deviation of $1500.
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In 2010 homevalue losses had a mean of 10200 and we will use the sample standarddeviation of ...View the full answer
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Related Book For 
Stats Data And Models
ISBN: 662
4th Edition
Authors: Richard D. De Veaux, Paul D. Velleman, David E. Bock
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