Question

Using your data from Question 1, **construct a 90%
confidence interval for the population average home sale
price** in Whatcom county.

(b)What does the confidence interval mean?

(c) How is the confidence interval related to the Central Limit Theorem?

(d) What is the difference between a hypothesis test and a confidence interval?

House | Price |

1 | 819500 |

2 | 499950 |

3 | 569000 |

4 | 220000 |

5 | 110000 |

6 | 499999 |

7 | 389900 |

8 | 399000 |

9 | 650000 |

10 | 459000 |

11 | 975000 |

12 | 749000 |

13 | 848000 |

14 | 529000 |

15 | 325000 |

16 | 895000 |

17 | 337250 |

18 | 489000 |

19 | 485000 |

20 | 369000 |

21 | 2100000 |

22 | 509000 |

23 | 469900 |

24 | 380000 |

25 | 260000 |

26 | 475000 |

27 | 765000 |

28 | 675000 |

29 | 649000 |

30 | 256500 |

Answer #1

Claim: Last quarter, the average home
price in Washington state was $409,228.
Do you believe, since the COVID-19 pandemic started, that home
prices have are different?
Test the claim, using a two-tail hypothesis test at the
5% significance level.
a) Gather the data.
Here is my data from Redfin:
House
Price
1
819500
2
499950
3
569000
4
220000
5
110000
6
499999
7
389900
8
399000
9
650000
10
459000
11
975000
12
749000
13
848000
14
529000
15...

Problem 1: Confidence Interval for Percent of
Individuals Vaping (there is no data set)
From a July 2019 survey of 1186 randomly selected Americans ages
18-29, it was discovered that 248 of them vaped (used an
e-cigarette) in the past week.
Write one sentence each to check the three conditions of the
Central Limit Theorem. Show your work for the mathematical check
needed to show a large sample size was taken.
Verify your result from part (c) using Stat à...

(a) Construct a 99% confidence interval for the population
proportion who prefer your client's product.
(b) Would a 95% confidence interval for the same population
proportion be wider or narrower.
(c) The marketing director of your client's company states, "I
am almost certain that our product is preferred by at least 40% of
consumers". Based on your answer to part (a), do you agree with
him? Why or why not?
Consumer ID
Product Preference
1
Competitor
2
Client
3
Competitor...

Let’s consinder a mortgage application using HMDA (The Home
Mortgage Disclosure Act). Here is a sample from 30 mortgage
applications:
ID
loanamt
income
hprice
1
109
63
155
2
185
137
264
3
121
53
128
4
125
78
125
5
119
37
149
6
153
65
171
7
380
188
484
8
100
58
125
9
110
78
158
10
41
31
116.5
11
115
54
128
12
248
117
280
13
126
60
157.5
14
260
192
325...

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