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A family is relocating from St. Louis, Missouri, to California. Due to an increasing inventory of...

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Basic Math

A family is relocating from St. Louis, Missouri, to California.Due to an increasing inventory of houses in St. Louis, it is takinglonger than before to sell a house. The wife is concerned and wantsto know when it is optimal to put their house on the market. Herrealtor friend informs them that the last 28 houses that sold intheir neighborhood took an average time of 220 days to sell. Therealtor also tells them that based on her prior experience, thepopulation standard deviation is 40 days. [You may find ituseful to reference the z table.]

b. Construct the 95% confidence interval forthe mean sale time for all homes in the neighborhood.(Round intermediate calculations to at least 4 decimalplaces. Round "z" value to 3 decimal places and finalanswers to 2 decimal places.)

Confidence intervalto

Answer & Explanation Solved by verified expert
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Solution Given that 220 40n 28At 95 confidence level    See Answer
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