### Determining the Confidence Interval for Population MeanAn essential factor in selling a residential property is the number of people who look through the home. A sample of 19 homes recently sold in the Buffalo, New York, area revealed the mean number looking through each home was 27 and the standard deviation of the sample was 6 people.**Objective:**Develop a 95% confidence interval for the population mean (use the t Distribution Table). **Instructions:**Round your answers to 2 decimal places.**Confidence Interval Calculation:**For this task, you will need to:1. Calculate the sample mean (given as 27).2. Determine the standard deviation (given as 6).3. Identify the sample size (19 homes).4. Use the t Distribution Table to find the t-value for a 95% confidence level with n-1 degrees of freedom (where n is the sample size).5. Use the following formula to calculate the confidence interval: \[ \text{Confidence Interval} = \bar{x} \pm \left(t_{\alpha/2} \times \frac{s}{\sqrt{n}}\right) \] where: - $\bar{x}$ is the sample mean, - $t_{\alpha/2}$ is the t-value for the desired confidence level, - $s$ is the sample standard deviation, - $n$ is the sample size.Using these steps and the provided data, you can calculate and find the confidence interval.**Graphical Representation:**There is a rectangular table included in the image to record the calculated confidence interval.**Table:**| Confidence Interval for the Population Mean is between | [ ] | and | [ ] |This is where your calculated lower and upper limits of the confidence interval should be written after performing the above calculations.

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Since the sample size is small and population standard deviation is unknown, t distribution can be…

Math

Statistics

An important factor in selling a residential property is the number of people who look through the home. A sample of 19 homes recently sold in the Buffalo, New York, area revealed the mean number looking through each home was 27 and the standard deviation of the sample was 6 people. Develop a 95% confidence interval for the population mean. (Use t Distribution Table.) (Round your answers to 2 decimal places.)

An important factor in selling a residential property is the number of people who look through the home. A sample of 19 homes recently sold in the Buffalo, New York, area revealed the mean number looking through each home was 27 and the standard deviation of the sample was 6 people. Develop a 95% confidence interval for the population mean. (Use t Distribution Table.) (Round your answers to 2 decimal places.)

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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