Construct confidence interval for the average house price

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Reference no: EM131460918

Question: A realtor in Mission Viejo, California, wants to estimate the average price of a house in the city.

a. Open the Mission Viejo (raw) data from the text website into an Excel spreadsheet (data are in $1,000s). Assume the population standard deviation is $100 (in $1,000s).

b. Construct a 90% and a 99% confidence interval for the average house price. Comment on the corresponding widths of the intervals.

Reference no: EM131460918

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