Suppose the standard deviation of home price losses had been $3000, as in Exercise 8? What would

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Suppose the standard deviation of home price losses had been $3000, as in Exercise 8? What would your conclusion be then?
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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Stats Data And Models

ISBN: 662

4th Edition

Authors: Richard D. De Veaux, Paul D. Velleman, David E. Bock

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