Confidence Intervals for Standard Deviation and Variance Use the data below to construct a 95% confidence interval for the standard deviation and variance for home sale prices in Beavercreek (in thousands of dollars) 114.1 240.7 170.9 116.4 160.8 227.2 293.3 217.5 293.4 278.2 227.3 306.8 185.9 194.5 299.9 159 270.3 272.6 221.4 146.7 239.4 342.2 212.6 226.9 Use the Estimation of Variance and SD tab. Begin by entering the data starting in the yellow Al19 field. Use the results (green) for standard deviation s and sample size n to complete the values beginning in B3 to B5. For BS, enter the confidence level as a decimal not a percentage. Results Complete the confidence statements for both variance and standard deviation in complete sentences below. Make sure to conve to thousands of dollars in your statement. Eor example: "With an 80% level of confidence, the standard deviation of hame sale prices in Beavercreek was between $52,224 and $76,675
Confidence Intervals for Standard Deviation and Variance Use the data below to construct a 95% confidence interval for the standard deviation and variance for home sale prices in Beavercreek (in thousands of dollars) 114.1 240.7 170.9 116.4 160.8 227.2 293.3 217.5 293.4 278.2 227.3 306.8 185.9 194.5 299.9 159 270.3 272.6 221.4 146.7 239.4 342.2 212.6 226.9 Use the Estimation of Variance and SD tab. Begin by entering the data starting in the yellow Al19 field. Use the results (green) for standard deviation s and sample size n to complete the values beginning in B3 to B5. For BS, enter the confidence level as a decimal not a percentage. Results Complete the confidence statements for both variance and standard deviation in complete sentences below. Make sure to conve to thousands of dollars in your statement. Eor example: "With an 80% level of confidence, the standard deviation of hame sale prices in Beavercreek was between $52,224 and $76,675
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
What is the conclusion ?

Transcribed Image Text:Confidence Intervals for Standard Deviation and Variance
Use the data below to construct a 95% confidence interval for the standard deviation and variance for home sale prices in
Beavercreek (in thousands of dollars)
114.1
240.7
170.9
116.4
160.8
227.2
293.3
217.5
293.4
278.2
227.3
306.8
185.9
194.5
299.9
159
270.3
272.6
221.4
146.7
239.4
342.2
212.6
226.9
Use the Estimation of Variance and SD tab.
Begin by entering the data starting in the yellow Al19 field.
Use the results (green) for standard deviation s and sample size n to complete the values beginning in B3 to B5. For B5, enter the
confidence level as a decimal not a percentage.
Results:
Complete the confidence statements for both variance and standard deviation in complete sentences below. Make sure to convert
to thousands of dollars in your statement.
For example: "With an 80% level of confidence, the standard deviation of home sale prices in Beavercreek was between $52,224
and $76,675
Expert Solution

Step 1
Instruction : "What is the conclusion ?"
Given Data :
First we will calculate the variance and standard deviation for the data :
Sample size ,n = 24
Sum = Σx = 5418
Mean, x̄ = Σx /n = 225.75
Now, calculating Variance :
Variance, s2 = 3795.341
Standard deviation , s = 61.606
Step by step
Solved in 2 steps with 2 images

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