Check whether it is appropriate to use the large sample confidence interval for the population proportion to estimate the proportion of residential properties successfully sold at auction and explain the reason.

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Answer 1

Question

Chapter 9.5, Problem 63E

a.

To determine

Check whether it is appropriate to use the large sample confidence interval for the population proportion to estimate the proportion of residential properties successfully sold at auction and explain the reason.

b.

To determine

Check whether it is appropriate to use the bootstrap confidence interval for the population proportion to estimate the proportion of residential properties successfully sold at auction and explain the reason.

c.

To determine

Obtain the 95% confidence interval for the proportion of residential properties successfully sold at auction and interpret it.

d.

To determine

Check whether the success rate for properties sold at auction throughout Country U during one stretch a year earlier (72%) fall within the bootstrap confidence interval in part (c) and explain what does this indicate.

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Answer 2

Question

Chapter 9.5, Problem 63E

a.

To determine

Check whether it is appropriate to use the large sample confidence interval for the population proportion to estimate the proportion of residential properties successfully sold at auction and explain the reason.

b.

To determine

Check whether it is appropriate to use the bootstrap confidence interval for the population proportion to estimate the proportion of residential properties successfully sold at auction and explain the reason.

c.

To determine

Obtain the 95% confidence interval for the proportion of residential properties successfully sold at auction and interpret it.

d.

To determine

Check whether the success rate for properties sold at auction throughout Country U during one stretch a year earlier (72%) fall within the bootstrap confidence interval in part (c) and explain what does this indicate.

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Answer 3

Question

Chapter 9.5, Problem 63E

a.

To determine

Check whether it is appropriate to use the large sample confidence interval for the population proportion to estimate the proportion of residential properties successfully sold at auction and explain the reason.

b.

To determine

Check whether it is appropriate to use the bootstrap confidence interval for the population proportion to estimate the proportion of residential properties successfully sold at auction and explain the reason.

c.

To determine

Obtain the 95% confidence interval for the proportion of residential properties successfully sold at auction and interpret it.

d.

To determine

Check whether the success rate for properties sold at auction throughout Country U during one stretch a year earlier (72%) fall within the bootstrap confidence interval in part (c) and explain what does this indicate.

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Answer 4

Question

Chapter 9.5, Problem 63E

a.

To determine

Check whether it is appropriate to use the large sample confidence interval for the population proportion to estimate the proportion of residential properties successfully sold at auction and explain the reason.

b.

To determine

Check whether it is appropriate to use the bootstrap confidence interval for the population proportion to estimate the proportion of residential properties successfully sold at auction and explain the reason.

c.

To determine

Obtain the 95% confidence interval for the proportion of residential properties successfully sold at auction and interpret it.

d.

To determine

Check whether the success rate for properties sold at auction throughout Country U during one stretch a year earlier (72%) fall within the bootstrap confidence interval in part (c) and explain what does this indicate.

Expert Solution & Answer

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Answer 5

Chapter 9.5, Problem 63E

a.

To determine

Check whether it is appropriate to use the large sample confidence interval for the population proportion to estimate the proportion of residential properties successfully sold at auction and explain the reason.

b.

To determine

Check whether it is appropriate to use the bootstrap confidence interval for the population proportion to estimate the proportion of residential properties successfully sold at auction and explain the reason.

c.

To determine

Obtain the 95% confidence interval for the proportion of residential properties successfully sold at auction and interpret it.

d.

To determine

Check whether the success rate for properties sold at auction throughout Country U during one stretch a year earlier (72%) fall within the bootstrap confidence interval in part (c) and explain what does this indicate.

Answer 6

Chapter 9.5, Problem 63E

a.

To determine

Check whether it is appropriate to use the large sample confidence interval for the population proportion to estimate the proportion of residential properties successfully sold at auction and explain the reason.

Answer 7

Chapter 9.5, Problem 63E

a.

To determine

Check whether it is appropriate to use the large sample confidence interval for the population proportion to estimate the proportion of residential properties successfully sold at auction and explain the reason.

Answer 8

b.

To determine

Check whether it is appropriate to use the bootstrap confidence interval for the population proportion to estimate the proportion of residential properties successfully sold at auction and explain the reason.

Answer 9

b.

To determine

Check whether it is appropriate to use the bootstrap confidence interval for the population proportion to estimate the proportion of residential properties successfully sold at auction and explain the reason.

Answer 10

c.

To determine

Obtain the 95% confidence interval for the proportion of residential properties successfully sold at auction and interpret it.

Answer 11

c.

To determine

Obtain the 95% confidence interval for the proportion of residential properties successfully sold at auction and interpret it.

Answer 12

d.

To determine

Check whether the success rate for properties sold at auction throughout Country U during one stretch a year earlier (72%) fall within the bootstrap confidence interval in part (c) and explain what does this indicate.

Answer 13

d.

To determine

Check whether the success rate for properties sold at auction throughout Country U during one stretch a year earlier (72%) fall within the bootstrap confidence interval in part (c) and explain what does this indicate.

Answer 14

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Answer 15

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Answer 16

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Answer 17

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Check whether it is appropriate to use the large sample confidence interval for the population proportion to estimate the proportion of residential properties successfully sold at auction and explain the reason.

Solution Summary: The author explains how to use the large sample confidence interval for the population proportion to estimate the proportion of residential properties successfully sold at auction.

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Check whether it is appropriate to use the large sample confidence interval for the population proportion to estimate the proportion of residential properties successfully sold at auction and explain the reason.

Check whether it is appropriate to use the bootstrap confidence interval for the population proportion to estimate the proportion of residential properties successfully sold at auction and explain the reason.

Obtain the 95% confidence interval for the proportion of residential properties successfully sold at auction and interpret it.

Check whether the success rate for properties sold at auction throughout Country U during one stretch a year earlier (72%) fall within the bootstrap confidence interval in part (c) and explain what does this indicate.

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