Answered: What proportion of homes for sale in…

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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9. What proportion of homes for sale in Ohio are sold through a real estate agency? In a survey of a random sample of homes for sale in Ohio, the proportion being sold through real estate agencies is found to be 0.75. When a 95% confidence interval is constructed based on this sample of data, it is found to be from 0.69 to 0.81. How should this interval be interpreted? A. If we repeat the sampling process 100 times, 95% of all resulting confidence intervals will be from 0.69 to 0.81. B. In 95% of the last 100 years, the proportion of homes sold in Ohio by real estate agencies has been between 0.69 and 0.81. C. With 95% confidence, if you sell a home in Ohio, you have an 75% ± 6% chance of using a real estate agency. D. We are 95% confident that the interval from 0.69 to 0.81 includes the proportion of homes in this random sample that were sold through a real estate agency. E. We are 95% confident that the interval from 0.69 to 0.81 includes the proportion of all homes in Ohio that are sold through a real estate agency.

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