Question

Two real estate companies, Century 21 and RE/MAX, compete with one another in a local market. The manager of the Century 21 office would like to advertise that homes listed with RE/MAX average more than 10 days on the market when compared to homes listed with his company. The following data shows the sample size and average number of days on the market for the two companies along with the population standard deviations.Sample mean Sample size Population standard deviation Century 21 22 days 36 32 days RE/MAX 144 days 30 35 daysIf Population 1 is defined as RE/MAX and Population 2 is defined as Century 21, the 80% confidence interval for the difference in population means is:_________.(17.8, 26.2)(11.5, 32.7)(5.4, 38.6)(-3.0, 47.0)

Answer 1

Answer:

17.8 , 26.2

Step-by-step explanation:

The confidence interval is 80% for the given population. Significance level is 0.2 [ 1 - 0.8 ] . Sample size is given and sample mean is calculated with the given standard deviation. Sample mean is 36 days and population size is 144 days.