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 $5000. Unde assumption that house prices are normally distributed, find a 95% confidence interval for the mean sales price of all houses in this community. Then find lower limit and upper limit of the 95% confidence interval. Carry your intermediate computations to at least three decimal places. Round your answers to the nearest whole number. (If necessary, consult a list of formulas.) Lower limit: $|| Upper limit: S
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 $5000. Unde assumption that house prices are normally distributed, find a 95% confidence interval for the mean sales price of all houses in this community. Then find lower limit and upper limit of the 95% confidence interval. Carry your intermediate computations to at least three decimal places. Round your answers to the nearest whole number. (If necessary, consult a list of formulas.) Lower limit: $|| Upper limit: S
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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![**Confidence Interval for the Population Mean: Use of the t-distribution**
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 $5,000. 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. Then find the lower limit and upper limit of the 95% confidence interval.
Carry your intermediate computations to at least three decimal places. Round your answers to the nearest whole number. (If necessary, consult a list of formulas.)
- Lower limit: $ [input box]
- Upper limit: $ [input box]
Next to the input boxes, there are symbols that appear to represent actions or help: a circle with an "x" and a question mark, potentially indicating "clear" or "help" options.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1d3f2bfb-a5cc-4b06-99e2-b36f9d38db79%2F82232bb1-edc8-4e12-89bf-91f5703332ca%2F5r1rlbw_processed.jpeg&w=3840&q=75)
Transcribed Image Text:**Confidence Interval for the Population Mean: Use of the t-distribution**
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 $5,000. 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. Then find the lower limit and upper limit of the 95% confidence interval.
Carry your intermediate computations to at least three decimal places. Round your answers to the nearest whole number. (If necessary, consult a list of formulas.)
- Lower limit: $ [input box]
- Upper limit: $ [input box]
Next to the input boxes, there are symbols that appear to represent actions or help: a circle with an "x" and a question mark, potentially indicating "clear" or "help" options.
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