Question

A real estate agent wants to estimate the average age of those buying 35 30 52 48 37 investment property in his area. He randomly selects 15 of his clients who 48 50 41 44 43 purchased an investment property and obtains the data shown. Use this information to answer the following questions. 58 43 56 45 40 Click the icon to view a boxplot and a normal probability plot. The buyer ages are approximately normally distributed and the sample does not contain any outliers. Construct a 95% confidence interval for the mean age for all the real estate agent's clients who purchased investment property. I0 (Use ascending order. Round to one decimal place as needed.) Interpret this interval. 0 A. We are 95% confident that the interval actually does not contain the true value of the mean B. We are 95% confident that the interval actually does contain the true value of the mean. ° C. There is a 95% chance that the true value of the mean will fall in the interval 0 D. There is a 95% chance that the true value of the mean will not fall in the interval. Use the normal probability plot and boxplot to assist in verifying the model requirements. O A. The requirements are not met since all the data lie within the bounds of the normal probability plot and the boxplot does not reveal any outliers. O B. The requirements are not met since not all the data lie within the bounds of the normal probability plot and the boxplot does reveals outliers. ° C. The requirements are met since all the data lie within the bounds of the normal probability plot and the boxplot does not reveal any outie s O D. The requirements are met since not all the data lie within the bounds of the normal probability plot and the boxplot does reveals outliers

Answer 1

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Interpretation:

The box plot and normal probability plots reveals that the requirements are met since all the data lie within the normal probability plot and the box plot does not reveal any outliers. There is not much departures from normality. The distribution is approximately normal based on the normal probability plot in the above part (c).