Answer by stanbon(75887)
(Show Source): You can put this solution on YOUR website!
An important factor in selling a residential property is the number of people who look through the home.
A sample of 15 homes recently sold in the Buffalo, New York, area revealed the mean number looking through each home was 24 and the standard deviation of the sample was 5 people.
Develop a 98 percent confidence interval for the population mean.
------------------------------------------------
x-bar = 24
E = invT(0.985,14)*5/sqrt(15) = 3.1176
--------------------
98% CI: 24-3.1176 < u < 24+3.1176
==========================================
Cheers,
Stan H.
