You are looking to purchase a home in Lancaster, PA. In order to see what the average home will cost you decide to go to Zillow.com and look at the homes for sale. When you search for Lancaster, PA, you are presented with 210 different homes. Rather than finding the average of all 210 homes, you decide to randomly sample 35 homes and calculate the mean price and standard deviation. What is the average cost of the 35 homes in Lancaster, PA, you randomly selected? What is the standard deviation of the cost of 35 homes in Lancaster, PA? Given that the population standard deviation for the cost of houses in Lancaster, PA, is $226,312.40, what is the EBM for the 90% confidence interval?
You are looking to purchase a home in Lancaster, PA. In order to see what the average home will cost you decide to go to Zillow.com and look at the homes for sale. When you search for Lancaster, PA, you are presented with 210 different homes. Rather than finding the average of all 210 homes, you decide to randomly sample 35 homes and calculate the mean price and standard deviation.
What is the average cost of the 35 homes in Lancaster, PA, you randomly selected?
What is the standard deviation of the cost of 35 homes in Lancaster, PA?
Given that the population standard deviation for the cost of houses in Lancaster, PA, is $226,312.40, what is the EBM for the 90% confidence interval?


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