Question

The following data represent the number of housing starts predicted for the 2nd quarter for a random sample of 40 economists. 888 946 976 992 1009 1035 1061 1100 920 964 980 993 1012 1038 1067 1125 929 964 984 996 1017 1047 1095 1164 938 970 990 1000 1025 1050 1095 1178 942 975 992 1004 1030 1060 1100 1260

a) Produce a boxplot for this data, and comment on whether you think the data is normally distributed (this is one of the requirements of the test). b) Find the mean and standard deviation of the sample.

c) What are the observational units?

d) What is the variable collected? What type of variable is it?

e) Construct a 95% confidence interval for the mean number of housing starts in the 2nd quarter. Show the work.

f) Interpret the interval.

Answer 1