A family is relocating from St. Louis, Missouri, to California. Due to an increasing inventory of houses in St. Louis, it is taking longer than before to sell a house. The wife is concerned and wants to know when it is optimal to put their house on the market. Her realtor friend informs them that the last 26 houses that sold in their neighborhood took an average time of 218 days to sell. The realtor also tells them that based on her prior experience, the population standard deviation is 72 days. [You may find it useful to reference the z table.] a. What assumption regarding the population is necessary for making an interval estimate for the population mean? Assume that the population has a normal distribution. O Assume that the central limit theorem applies. b. Construct the 90% confidence interval for the mean sale time for all homes In the neighborhood. (Round intermediate calculations to at least 4 decimal places. Round "z value to 3 decimel places and final answers to 2 decimal places.) Confidence Interval

A family is relocating from St. Louis, Missouri, to California. Due to an increasing inventory of houses in St. Louis, it is taking longer than before to sell a house. The wife is concerned and wants to know when it is optimal to put their house on the market. Her realtor friend informs them that the last 26 houses that sold in their neighborhood took an average time of 218 days to sell. The realtor also tells them that based on her prior experience, the population standard deviation is 72 days. [You may find it useful to reference the z table.] a. What assumption regarding the population is necessary for making an interval estimate for the population mean? Assume that the population has a normal distribution. O Assume that the central limit theorem applies. b. Construct the 90% confidence interval for the mean sale time for all homes In the neighborhood. (Round intermediate calculations to at least 4 decimal places. Round "z value to 3 decimel places and final answers to 2 decimal places.) Confidence Interval

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Description: A family is relocating from St. Louis, Missouri, to California. Due to an increasing inventory of houses in St. Louis, it is taking longer thanbefore to sell a house. The wife is concerned and wants to know when it is optimal to put their house on t

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Concept explainers

Unitary Method

The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.

Speed, Time, and Distance

Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.

Profit and Loss

The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.

Units and Measurements

Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.

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Question

A family is relocating from St. Louis, Missouri, to California. Due to an increasing inventory of houses in St. Louis, it is taking longer than
before to sell a house. The wife is concerned and wants to know when it is optimal to put their house on the market. Her realtor friend
informs them that the last 26 houses that sold in their neighborhood took an average time of 218 days to sell. The realtor also tells
them that based on her prior experience, the population standard deviation is 72 days. [You may find it useful to reference the z
table.]
a. What assumption regarding the population is necessary for making an interval estimate for the population mean?
Assume that the population has a normal distribution.
O Assume that the central limit theorem applies.
b. Construct the 90% confidence interval for the mean sale time for all homes in the neighborhood. (Round intermediate calculations
to at least 4 decimal places. Round "z value to 3 decimal places and final answers to 2 decimal places.)
Confidence Interval
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