Question

A realtor claims that the average 3 bedroom, 2 bath home is selling for an average of $155,000.00. A group concerned about rising property taxes and home evaluations wants to test that claim to see if it is fair. The group selects a random sample of 14 homes recently sold in the area with 3 bedrooms and 2 bathrooms. The mean of this sample is $141,193.80 and the standard deviation is $30,687.49. What is the 99% confidence interval for the population mean for this sample?

WITH EXPLAINATION OF WORK

Answer 1

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