The housing market has recovered slowly from the economic crisis of 2008. Recently, in one large community, realtors randomly sampled 36 bids from potential buyers to estimate the average loss in home value. The sample showed the average loss was $8600 with a standard deviation of $1669. Complete parts a and b below. a) What assumptions and conditions must be checked before finding a confidence interval? How would one check them? A. The data are assumed to be independent and from a Normal population. Check the independence assumption with the Randomization Condition. Check the Normal population assumption with the Nearly Normal Condition using a histogram. B. The data are assumed to be dependent and to have a sample size that is large enough to have a sampling distribution that is approximately Normal. Check the independence assumption by ensuring that there are at least 10 "successes" and 10 "failures." C. The data are assumed to be independent and to have a sample size that is large enough to have a sampling distribution that is approximately Normal. Check the independence assumption with the Randomization Condition. Check the sample size assumption by ensuring that there are at least 10 "successes" and 10 "failures." OD. The data are assumed to be independent and from a Normal population. Check the independence assumption with the Nearly Normal Condition using a histogram. Check the Normal population assumption with the Randomization Condition.
The housing market has recovered slowly from the economic crisis of 2008. Recently, in one large community, realtors randomly sampled 36 bids from potential buyers to estimate the average loss in home value. The sample showed the average loss was $8600 with a standard deviation of $1669. Complete parts a and b below. a) What assumptions and conditions must be checked before finding a confidence interval? How would one check them? A. The data are assumed to be independent and from a Normal population. Check the independence assumption with the Randomization Condition. Check the Normal population assumption with the Nearly Normal Condition using a histogram. B. The data are assumed to be dependent and to have a sample size that is large enough to have a sampling distribution that is approximately Normal. Check the independence assumption by ensuring that there are at least 10 "successes" and 10 "failures." C. The data are assumed to be independent and to have a sample size that is large enough to have a sampling distribution that is approximately Normal. Check the independence assumption with the Randomization Condition. Check the sample size assumption by ensuring that there are at least 10 "successes" and 10 "failures." OD. The data are assumed to be independent and from a Normal population. Check the independence assumption with the Nearly Normal Condition using a histogram. Check the Normal population assumption with the Randomization Condition.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
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Transcribed Image Text:The housing market has recovered slowly from the economic crisis of 2008. Recently, in one
large community, realtors randomly sampled 36 bids from potential buyers to estimate the
average loss in home value. The sample showed the average loss was $8600 with a standard
deviation of $1669. Complete parts a and b below.
a) What assumptions and conditions must be checked before finding a confidence interval? How
would one check them?
A. The data are assumed to be independent and from a Normal population. Check the
independence assumption with the Randomization Condition. Check the Normal
population assumption with the Nearly Normal Condition using a histogram.
B. The data are assumed to be dependent and to have a sample size that is large enough
to have a sampling distribution that is approximately Normal. Check the independence
assumption by ensuring that there are at least 10 "successes" and 10 "failures."
C. The data are assumed to be independent and to have a sample size that is large enough
to have a sampling distribution that is approximately Normal. Check the independence
assumption with the Randomization Condition. Check the sample size assumption by
ensuring that there are at least 10 "successes" and 10 "failures."
OD. The data are assumed to be independent and from a Normal population. Check the
independence assumption with the Nearly Normal Condition using a histogram. Check
the Normal population assumption with the Randomization Condition.
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