Explain why the statement t > 13 is an inequality
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Answer:
The 95% confidence interval of the mean time it took a person to find their dream home is between 5.64 months and 6.16 months.
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 .
So it is z with a pvalue of , so
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 5.9 - 0.26 = 5.64 months
The upper end of the interval is the sample mean added to M. So it is 5.9 + 0.26 = 6.16 months.
The 95% confidence interval of the mean time it took a person to find their dream home is between 5.64 months and 6.16 months.