ASAP!! Sales Price (thousandThe table on the right contains data from areal estate firm for a sample of 30 houseslocated in southwest Florida facing the Gulfof Mexico. The table shows the sale price andnumber of days to sell each unit.dollars) Days to Sell1.4751302.350713.519854.534.5955.334.9119Develop a 95% confidence interval estimatefor the population mean of sales price andpopulation mean of number of days to selleach unit. Interpret the results in your own6.505927.1651978.21056words.9.9457310111231412630588800282131497510044556151630549330481731288184951611920405149669142214002822236492930514024410852526340107449722728298751294301604002063022791

Name: ASAP!! Sales Price (thousandThe table on the right contains data from
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Description: ASAP!! Sales Price (thousandThe table on the right contains data from areal estate firm for a sample of 30 houseslocated in southwest Florida facing the Gulfof Mexico. The table shows the sale price andnumber of days to sell each unit.dollars) Days t

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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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ASAP!!

Sales Price (thousand
The table on the right contains data from a
real estate firm for a sample of 30 houses
located in southwest Florida facing the Gulf
of Mexico. The table shows the sale price and
number of days to sell each unit.
dollars) Days to Sell
1.
475
130
2.
350
71
3.
519
85
4.
534.5
95
5.
334.9
119
Develop a 95% confidence interval estimate
for the population mean of sales price and
population mean of number of days to sell
each unit. Interpret the results in your own
6.
505
92
7.
165
197
8.
210
56
words.
9.
945
73
10
11
12
314
126
305
88
800
282
13
14
975
100
445
56
15
16
305
49
330
48
17
312
88
18
495
161
19
20
405
149
669
142
21
400
28
22
23
649
29
305
140
24
410
85
25
26
340
107
449
72
27
28
29
875
129
430
160
400
206
30
227
91

Expert Solution

Step 1

Level of significance: In testing of hypothesis, the level of significance is the probability of rejecting a null hypothesis when it is true. In other words, if the value of a test statistic exceeds the critical value, we conclude that the null hypothesis has been rejected.

Confidence interval: Confidence interval is an interval such that the probability of the unknown parameter to be included in the interval is equal to a preassigned probability, termed as the confidence coefficient. In simple language, a 100(1 - α)% confidence interval has the probability to include the unknown parameter with probability (1 - α).

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