Question

Saved Help An important factor in selling a residential property is the number of people who look through the home. A sample of 14 homes recently sold in the Buffalo, New York, area revealed the mean number looking through each home was 23 and the standard deviation of the sample was 5 people. Develop a 95% confidence interval for the population mean. (Use Distribution Table.) (Round your answers to 2 decimal places. Confidence interval for the population mean is between Eand

Answer 1

$\\ n=14, \bar{x}=23, s=5\\\\ Degree of freedom= n-1=13\\\\ Critical~ value (t_{\alpha/2})=2.16\\\\ (Use~t-disttibution~ table)$

Confidence interval is given as:

$\\ \bar{x}\pm \frac{(t_{\alpha/2}*s)}{\sqrt{n}}\\\\ =23 \pm \frac{2.16*5}{\sqrt{14}}$

$\\ =23 \pm 2.8864\\\\ =(20.1136, 25.8864)$

=(20.11, 25.89)