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Suppose that a random sample of ten recently sold houses in a certain city has a mean sales price of $285,000, with a standard deviation of $13,000. Under the assumption that house prices are normally distributed, find a 95% confidence interval for the mean sales price of all houses in this community.
a) What is the lower limit of the confidence interval?
b) What is the upper limit of the confidence interval?
Construct a bar and pie chart to graphically display these data by using Microsoft excel.
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If not, what is the relationship between the percentile of the sum and the sum of percentiles? For what per- centiles is the roll-up procedure valid in this case?
Previous studies have indicated the standard deviation of annual earnings for college students is $850. How large a sample would need to be taken to estimate the mean for college students' annual earnings to within $200 with 99% confidence?
Four properties are randomly selected from each neighborhood and the ratios recorded for each as follows:
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consider random sample from a populaion x that is exponentialhy distributed with parameter y. fxyye-yx for xgt0a
An election poll reported that a candidate had an approval rating of 34% with a margin of error E of 2%. Construct a confidence interval for the proportion of adults who approve of the candidate.
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