A random sample of 5 homes in Newberry, Florida had a mean of $169,900 and a standard deviation of $21,756. Construct a 95% confidence interval for the average home of this size in Newberry.
A. (144885.25, 194914.75).
B. (150440.842, 189359.16).
C. (150830, 188969.98).
D. (142886, 196914).

Answers

Answer 1

Answer:

D. (142886, 196914).

Step-by-step explanation:

To solve for this question, we would use t score instead of z score. The reason is because, our sample size is small.

The formula for Confidence Interval =

C.I = Mean ± t score × standard deviation/√n

n = 5 samples

Degrees of freedom = n - 1 = 5 - 1 = 4

The t score for a 95% confidence interval with degrees of freedom 5 is : 2.776

Hence,

Confidence Interval =

169,900 ± 2.776 × 21,756/√5

169,900 ± 2.776 × 9.7295789837

169, 900 ± 27009.311259

Confidence Interval

169,900 - 27009

= 142886

169, 900 + 27009.311259

= 196914

Hence, the confidence interval = (142886, 196914)

Option D is the correct answer

Answer 2

Using the t-distribution, it is found that the 95% confidence interval for the average price of a home of this size in Newberry is of (142886, 196914), given by option D.

In this problem, we have the standard deviation for the sample, thus, the t-distribution is used to solve this question.

The sample mean is [tex]\overline{x} = 169900[/tex].The sample standard deviation is [tex]s = 21756[/tex].The sample size is [tex]n = 5[/tex]

First, we find the number of degrees of freedom, which is the sample size subtracted by 1, so df = 5 - 1 = 4.

Then, we find the critical value for the 95% confidence interval with 4 df, which looking at the t-table or using a calculator is given by t = 2.7765.

The margin of error is:

[tex]M = t\frac{s}{\sqrt{n}}[/tex]

In this case:

[tex]M = 2.7765\frac{21756}{\sqrt{5}} = 27014[/tex]

The confidence interval is:

[tex]\overline{x} \pm M[/tex]

Then

[tex]\overline{x} - M = 169900 - 27014 = 142,886[/tex].

[tex]\overline{x} + M = 169900 + 27014 = 196,914[/tex].

Thus, the correct option is D. (142886, 196914).

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Related Questions

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The RISE is the VERTICAL distance between the two points on the graph. ... The slope 'm' of a line passing through points (x₁, y₁) and (x₂, y₂) is the ratio of the difference in the 'y' coordinates to the corresponding difference in the 'x' coordinates.

The difference in y-values between the coordinates of two points on a line is called the Rise.

The difference in y-values between the coordinates of two points on a line is called the rise or vertical rise. Or The rise is the vertical distance between the two points, which is the difference between their y-coordinates.

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Answers

Answer:

c

Step-by-step explanation:

edge2020

The solutions to the quadratic equation 4(x + 2)² = 36 is x = -5 and x = 1.

Hence, option c) x = -5 and x = 1 is the correct answer.

What is a Quadratic Equation?

Quadratic equation is simply an algebraic expression of the second degree in x. Quadratic equation in its standard form is;

ax² + bx + c = 0

Where x is the unknown

To solve for x, we use the quadratic formula

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Given that;

4(x + 2)² = 36

4( x(x + 2) + 2(x+2) ) = 36

4( x² + 2x + 2x + 4 ) = 36

4( x² + 4x + 4 ) = 36

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4x² + 16x + 16 - 36 = 0

4x² + 16x - 20 = 0

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x² + 4x - 5 = 0

Hence,

a = 1b = 4c = -5

x = (-b±√(b² - 4ac)) / (2a)

x = (-4±√(4² - (4 × 1 × -5)) / (2×1)

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Hence, option c) x = -5 and x = 1 is the correct answer.

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Answer:

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Step-by-step explanation:

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The point that represents the value of -(-2) is point C.

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Answers

Answer:

The expected value of this policy to the insurance company is $206.97

Step-by-step explanation:

Probability that Person doesn't die = 0.999563. Profit = Revenue - Cost; Profit = $290 - 0 = $290

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Expected Value E(X) = ∑xp(x)

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Answers

Answer:

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Step-by-step explanation:

Answer:

8<2x

Step-by-step explanation:

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Answers

I Believe B , If It’s Wrong I’m Sorry

The equation represents this situation will be dp = k. Thus, option B is correct.

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Let there are two variables p and q

Then, p and q are said to be directly proportional to each other if

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[tex]m \propto \dfrac{1}{n} \\\\ \text{or} \\\\n \propto \dfrac{1}{m}[/tex]

As visible, increasing one variable will decrease the other variable if both are inversely proportional.

The number of days, d, it will take Manny to read a book varies inversely as the number of pages, p, he reads per day.

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The equation represents this situation will be

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Answers

Answer: -11/2, -5/7, 0.1, 4/5, 1.3

Step-by-step explanation:

It might be easier to convert these fractions into decimals so let’s do that. -5/7 becomes about -0.7, 4/5 becomes 0.8, 1.3 is already a decimal, -11/2 becomes -5.5, and 0.1 is already a decimal. Negative numbers are less than positive numbers and -5.5 is a bigger negative number than -0.7, so -5.5 (-11/2) comes first and -0.7 (-5/7) comes second. 0.1 is less than 0.8 so 0.1 is third and 0.8 (4/5) is fourth. That leaves 1.3 as the greatest number. This gives us the list -11/2, -5/7, 0.1, 4/5, 1.3. Hope this helps!

Moses is solving the problem below.

A box of spaghetti at the grocery store is purchased for $1.60 wholesale and is marked up by 60 percent. Then, the store marks down the item by 20 percent. A customer wants to buy three boxes of spaghetti. How much will the customer pay, including paying 8 percent sales tax? Round your answer to the nearest cent.

Look at the table below.

Steps
Moses’s work
Step 1
1 dollar and 60 cents (1.6) = 2 dollars and 56 cents
Step 2
2 dollars and 56 cents (0.80) = 2 dollars and 5 cents
Step 3
2 dollars and 5 cents (3) = 8 dollars and 20 cents
Step 4
8 dollars and 20 cents (1.08) = 8 dollars and 86 cents

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Step 2
Step 3
Step 4

Answers

Answer:

2.21184 or 2.212

Step-by-step explanation:

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Answer:

Step 3

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Step-by-step explanation:

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