Answer to Question #125348 in Math for Yoggaranee

Question

1) A Family is relocating from St. Louis, Missouri, to California. Due to an increasing
inventory of houses in St. Louis, it is taking longer than before to sell a house. The wife
is concerned and wants to know when it is optimal to put their house on the market. Her
realtor friend informs them than the last 26 houses that sol in their neighborhood took
an average time of 218 days to sell. The realtor also tells them that based on her prior
experience, the population standard deviation is 72 days.

a. What assumption regarding the population is necessary for making an interval
estimate for the population mean? (2 Marks)
b. Construct the 90% confidence interval for the mean sale time for all homes in the
neighborhood. (4 Marks)

Answer 1

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