Which is the most accurate way to estimate 25% of 14?
1 answer:
You might be interested in
Answer:
The lower bound of the 95% confidence interval for the mean sale time for all homes in the neighborhood is of 160 days.
Step-by-step explanation:
We have that to find our level, that is the subtraction of 1 by the confidence interval divided by 2. So:
Now, we have to find z in the Ztable as such z has a pvalue of .
That is z with a pvalue of , so Z = 1.96.
Now, find the margin of error M as such
In which is the standard deviation of the population and n is the size of the sample.
The lower end of the interval is the sample mean subtracted by M. So it is 190 - 30 = 160 days
The lower bound of the 95% confidence interval for the mean sale time for all homes in the neighborhood is of 160 days.