The housing market has recovered slowly from the economic crisis of 2008. Recently, in one large community, realtors randomly sampled 25 bids from potential buyers to estimate the average loss in home value. The sample showed the average loss was $9450 with a standard deviation of $1956. complete questions a-c a) What assumptions and conditions must be checked before finding a confidence interval? How would one check them?A. The data are assumed to be independent and from a Normal population. Check the independence assumption with the Nearly Normal Condition using a histogram. Check the Normalpopulation assumption with the Randomization Condition.B. The data are assumed to be dependent and to have a sample size that is large enough to have a sampling distribution that is approximately Normal. Check the independence assumptionby ensuring that there are at least 10 "successes" and 10 "failures."O C. The data are assumed to be independent and from a Normal population. Check the independence assumption with the Randomization Condition. Check the Normal populationassumption with the Nearly Normal Condition using a histogram.D. The data are assumed to be independent and to have a sample size that is large enough to have a sampling distribution that is approximately Normal. Check the independenceassumption with the Randomization Condition. Check the sample size assumption by ensuring that there are at least 10 "successes" and 10 "failures."b) Find a 90% confidence interval for the mean loss in value per home.($.$$)(Round to the nearest whole number as needed.)c) Interpret this interval and explain what 90% confidence means in this context. Choose the correct answer below.A. One is 90% confident that the true average loss in home value of the homes sampled is between the lower boundary of the interval and the upper boundary of the interval.B. There is a 90% chance that the true average loss in home value of the homes sampled is between the lower boundary of the interval and the upper boundary of the interval.C. One is 90% confident that the true average loss in home value is between the lower boundary of the interval and the upper boundary of the interval.O D.re is a 90% chance that the average true oss in home valueetween the lower boundary the interval and the upper boundary of the interval.

Given that: Sample size, n=25 Sample mean, x¯=9450 Sample standard deviation, s=1956

The housing market has recovered slowly from the economic crisis of 2008. Recently, in one large community, realtors randomly sampled 25 bids from potential buyers to estimate the average loss in home value. The sample showed the average loss was $9450 with a standard deviation of $1956. complete questions a-c

The housing market has recovered slowly from the economic crisis of 2008. Recently, in one large community, realtors randomly sampled 25 bids from potential buyers to estimate the average loss in home value. The sample showed the average loss was $9450 with a standard deviation of $1956. complete questions a-c

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.4: Distributions Of Data

Problem 19PFA

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