Homework Answers
The population of interest is the population of which you want to draw conclusions after taking sample from it.
So all the houses sold in mecklenMeck county in last two years is population of interest..
Option (a)
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2 16. A real estate agent wishes to estimate the mean number of days on the...
2. The mean number of houses sold per week by a real estate agent is two....
2. The mean number of houses sold per week by a real estate agent is two. Find the probability that the agent sells three or more houses in a week. Maintain a minimum of 4 decimal places for intermediate calculations.
A real estate agent wishes to determine whether tax assessors and real estate appraisers agree on...
A real estate agent wishes to determine whether tax assessors and real estate appraisers agree on the vales of homes. A random sample of the two groups appraised 10 homes. The mean and standard deviations are shown below. Is there a significant difference in the values of the homes for each group? Let α=0.05. Test the hypothesis that the two appraisers differ in their appraisal values of the 10 homes. Solve using the traditional method. Data is also available in...
7) A real estate agent claims that the mean living area of all single-family homes in...
7) A real estate agent claims that the mean living area of all single-family homes in his county is at most 2400 square feet. A random sample of 50 such homes selected from this county produced the mean living area of 2540 square feet and a standard deviation of 472 square feet. Can you conclude that the real estate agent's claim is true at 5% level?
A real estate agent claims that the average price of a home sold in Beaver County,...
A real estate agent claims that the average price of a home sold in Beaver County, Pennsylvania, is $60,000. A random sample of 35 homes sold in the county is selected, and the prices in dollars are shown. Is there enough evidence to reject the agent's claim at 1 = 0.05? Assume @ = $76,025 and X = $84,581.43.
A real estate agent would like to know if the number of bedrooms in a house...
A real estate agent would like to know if the number of bedrooms in a house can be used to predict the selling price of the house. More specifically, he wants to know whether a larger number of bedrooms leads to a higher selling price. Records for 25 houses that recently sold in the area were selected at random, and data on the number of bedrooms (x) and the selling price y (in $000s) for each house were used to...
A real estate agent wants to estimate the average age of those buying investment property in...
A real estate agent wants to estimate the average age of those buying investment property in his area. He randomly selects 15 of his clients who purchased an investment property and obtains the data shown. Assume that sequals=10.5. Use this information to answer the following question. 53 62 32 28 55 47 46 37 49 47 32 63 43 38 44 The buyer ages are approximately normally distributed and the sample does not contain any outliers. Construct a 90% confidence...
An estate agent sells properties at a mean rate of 7 per week. 1 Suggest a...
An estate agent sells properties at a mean rate of 7 per week. 1 Suggest a suitable model to represent the number of properties sold in a randomly chosen week. Give two reasons to support your model. 2 Find the probability that in any randomly chosen week the estate agent sells exactly 5 properties. 3 Using a suitable approximation find the probability that during a 24 week period the estate agent sells more than 181 properties.
the real estate assessor for a company government wishes to study various characteristics concerning single- family...
the real estate assessor for a company government wishes to study various characteristics concerning single- family house in the country. A random sample of 700 houses results in a mean heated area for the house of 1800 sq. ft. with a standard deviation of 400 sq ft. In addition, it was learned that 420 out of the 700 houses had central air conditioning. Suppose that, using this data, a statistical hypothesis test is conducted to determine if there is significant...
A real estate agent works 9 am to 5 pm, Monday through Friday. The average number...
A real estate agent works 9 am to 5 pm, Monday through Friday. The average number of sales call this agent gets is 6 per day. Furthermore, assume that the probability of a sales call for this agent is the same for any two days and the sales call in one day are independent of sales call on any other day. Using this information to answer the following questions (40 through 43) pls show work 40. What is the probability...
A Real Estate Company has 20 Estings for homes in a certain city. The number of...
A Real Estate Company has 20 Estings for homes in a certain city. The number of in a certain city. The number of days each house has been on the market without selling is shown in the accompanying table i Complete parts a through c below 49 68 6866 76 66 80 75 108 52 23 103 34 6 22 38 26 56 95 25 a. Considering these 20 values to be the population of interest, what is the mean...
7) A real estate agent claims that the mean living area of all single-family homes in his county is at most 2400 square feet. A random sample of 50 such homes selected from this county produced the mean living area of 2540 square feet and a standard deviation of 472 square feet. Can you conclude that the real estate agent's claim is true at 5% level?
A Real Estate Company has 20 Estings for homes in a certain city. The number of in a certain city. The number of days each house has been on the market without selling is shown in the accompanying table i Complete parts a through c below 49 68 6866 76 66 80 75 108 52 23 103 34 6 22 38 26 56 95 25 a. Considering these 20 values to be the population of interest, what is the mean...
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