A random sample of 100 rates of return on real estate investments were computed and recorded....
A random sample of 100 rates of return on real estate investments were computed and recorded. Assuming that the standard deviation of all rates of return on real investments is 2.5% and sample mean is 12.
(a) Estimate the mean rate of return on all real estate investments with 95% confidence.
(b) Discuss the assumptions of binomial distribution.
Homework Answers
Ans:
a)
95% confidence interval for mean rate
=12+/-1.96*(2.5/sqrt(100))
=12+/-0.49
=(11.51, 12.49)
b)
1) The number of trials, n is fixed.
2) There are only two outcomes, "success" and "failure".
3)The probability of outcome success ,p is the same for each trial.
(3) The trials are independent. i.e. the outcome of one trial doesn't affect that of the others.
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