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 interval for the mean age for all the real estate agent's clients who purchased investment property.
Homework Answers
\sample mean, xbar = 45.07
sample standard deviation, s = 10.5
sample size, n = 15
degrees of freedom, df = n - 1 = 14
Given CI level is 90%, hence α = 1 - 0.9 = 0.1
α/2 = 0.1/2 = 0.05, tc = t(α/2, df) = 1.761
CI = (xbar - tc * s/sqrt(n) , xbar + tc * s/sqrt(n))
CI = (45.07 - 1.761 * 10.5/sqrt(15) , 45.07 + 1.761 *
10.5/sqrt(15))
CI = (40.30 , 49.84)
Add Answer 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 35 30 52...
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...
A real estate agent wants to estimate the average age of those buying33 30 46 47...
A real estate agent wants to estimate the average age of those buying33 30 46 47 35 investment property in his area. He randomly selects 15 of his clients who property and obtains the data shown. Use this 47 55 43 48 44 57 41 50 44 38 information to answer the following questions Click the icon to view a boxplot and a normal probability plot. The buyer ages are approximately normal y distributed and the sampe does no contain...
estimate the average age at which multiple sclerosis patients were diagnosed with the condition for the...
estimate the average age at which multiple sclerosis patients were diagnosed with the condition for the first time in a given city. How big should the sample be? Define your procedures for this estimate (if necessary, set your own values of unknown parameters, based on statistical theory). In Table 1 you will find all ages of this patient population. 54 58 56 48 62 59 55 56 60 52 53 61 56 56 53 37 71 62 39 61 54...
Real Estate Law Rudolph and his real estate agent, Blitzen, enter into a listing agreement whereby...
Real Estate Law Rudolph and his real estate agent, Blitzen, enter into a listing agreement whereby Blitzen may list Rudolph’s property but Rudolph may also try to find a buyer. Blitzen finds Comet, a buyer who has enough cash to purchase the property and would like to purchase the property today. One day later, Rudolph’s friend, Donner, offers to purchase the property for five thousand dollars more than the listing price. Why would Blitzen be able to get a commission...
2. Homework 19, Question 2 A real estate agent is interested in estimating the value of a piece o...
Price
Lot size
Trees
Distance
89.7
21.8
45
62
136.1
66.3
79
34
44.7
28.2
53
77
63.2
41.9
64
65
163.4
46.7
69
27
64.1
32.1
12
0
98.7
38.5
59
77
139.9
27.6
10
0
92
47
65
37
66.6
20.7
24
51
16.4
34
22
75
131.9
31.9
56
63
11
28
12
42
27.9
40
52
84
103.5
46.6
36
70
107
23.2
11
83
51.6
46.4
53
44
133.4
32.1
55
98
101.4
35.3
38...
Elite Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted...
Elite Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted trial balance on March 31, 2016, follows: Elite Realty UNADJUSTED TRIAL BALANCE March 31, 2016 ACCOUNT TITLE DEBIT CREDIT 1 Cash 25,300.00 2 Accounts Receivable 61,700.00 3 Prepaid Insurance 2,700.00 4 Office Supplies 2,000.00 5 Land 6 Accounts Payable 12,400.00 7 Unearned Rent 8 Notes Payable 9 Common Stock 10,000.00 10 Retained Earnings 37,100.00 11 Dividends 2,400.00 12 Fees Earned 238,000.00 13 Salary and...
Elite Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted...
Elite Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted trial balance on March 31, 2018, follows: Elite Realty UNADJUSTED TRIAL BALANCE March 31, 2018 ACCOUNT TITLE DEBIT CREDIT 1 Cash 25,300.00 2 Accounts Receivable 58,500.00 3 Prepaid Insurance 3,400.00 4 Office Supplies 2,100.00 5 Accounts Payable 12,600.00 6 Common Stock 10,000.00 7 Retained Earnings 37,100.00 8 Dividends 2,400.00 9 Fees Earned 240,100.00 10 Salary and Commission Expense 147,600.00 11 Rent Expense 35,000.00 12...
Elite Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted...
Elite Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted trial balance on March 31, 2018, follows: Elite Realty UNADJUSTED TRIAL BALANCE March 31, 2018 ACCOUNT TITLE DEBIT CREDIT 1 Cash 26,100.00 2 Accounts Receivable 59,400.00 3 Prepaid Insurance 3,100.00 4 Office Supplies 2,100.00 5 Accounts Payable 12,500.00 6 Common Stock 10,000.00 7 Retained Earnings 37,800.00 8 Dividends 2,000.00 9 Fees Earned 237,900.00 10 Salary and Commission Expense 147,600.00 11 Rent Expense 32,000.00 12...
The research team would like to estimate the average gender difference in age. Compute a 90%...
The research team would like to estimate the average gender difference in age. Compute a 90% estimate and confidence interval for the difference in the average age of Female and Male employees. What is the margin of error of the confidence interval ? (Use 3 decimals) Employee Number1 Annual Salary Gender Age (years) Experience (years) Training Level 1 $ 32,368 F 42 3 B 2 $ 53,174 M 54 10 B 3 $ 52,722 M 47 10 A 4 $ 53,423 M 47 1...
Valley Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted...
Valley Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted trial balance on July 31, 2019, follows: Valley Realty Unadjusted Trial Balance July 31, 2019 Account Credit Debit Balances No. Balances Cash 52.500 12 100,100 Accounts Receivable Prepaid Insurance 13 12,600 Office Supplies 2,800 16 Land 21 Accounts Payable 21,000 22 Uneared Rent 23 Notes Payable 31 87,500 Cindy Getman, Capital Cindy Getman, Drawing 32 44,800 Fees Eamed 591,500 Cash 52,500 Accounts Receivable 100,100...
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...
A real estate agent wants to estimate the average age of those buying33 30 46 47 35 investment property in his area. He randomly selects 15 of his clients who property and obtains the data shown. Use this 47 55 43 48 44 57 41 50 44 38 information to answer the following questions Click the icon to view a boxplot and a normal probability plot. The buyer ages are approximately normal y distributed and the sampe does no contain...
Price
Lot size
Trees
Distance
89.7
21.8
45
62
136.1
66.3
79
34
44.7
28.2
53
77
63.2
41.9
64
65
163.4
46.7
69
27
64.1
32.1
12
0
98.7
38.5
59
77
139.9
27.6
10
0
92
47
65
37
66.6
20.7
24
51
16.4
34
22
75
131.9
31.9
56
63
11
28
12
42
27.9
40
52
84
103.5
46.6
36
70
107
23.2
11
83
51.6
46.4
53
44
133.4
32.1
55
98
101.4
35.3
38...
Valley Realty acts as an agent in buying, selling, renting, and managing real estate. The unadjusted trial balance on July 31, 2019, follows: Valley Realty Unadjusted Trial Balance July 31, 2019 Account Credit Debit Balances No. Balances Cash 52.500 12 100,100 Accounts Receivable Prepaid Insurance 13 12,600 Office Supplies 2,800 16 Land 21 Accounts Payable 21,000 22 Uneared Rent 23 Notes Payable 31 87,500 Cindy Getman, Capital Cindy Getman, Drawing 32 44,800 Fees Eamed 591,500 Cash 52,500 Accounts Receivable 100,100...
Most questions answered within 3 hours.
-
For the data set shown below, complete parts (a) through (d)
below. x 3 4 5...
asked 1 minute from now -
A university administrator working in student housing wants to
determine if the percentage of students residing...
asked 11 minutes ago -
3). Describe human population growth that has occurred in the
past 400 years. Use terms learned...
asked 9 minutes ago -
A
projectile is blue at a target. The distance from the point of
impact to the...
asked 33 minutes ago -
Given a 32 bit processor, with 2 MB of physical RAM split into 512
frames. What...
asked 23 minutes ago -
What were the main rulings in the Supreme Court cases which are
Morgan v. Virginia (1946)...
asked 23 minutes ago -
write a five paragraph essay on how setting,
specifically culture, influences the actions of
the characters...
asked 14 minutes ago -
JAVA
Provide a simple code sample of Merge sort
asked 25 minutes ago -
Discounting cash flows involves:
A. taking the cash discount offered on a trade merchandise
B. estimating...
asked 32 minutes ago -
A solid wood door 1.00 m wide and 2.00 m high is hinged along
one side...
asked 32 minutes ago -
Raleigh Company manufactures two joint products. At the
split-off point, they have sales values of:
Product...
asked 32 minutes ago -
1. Your grandmother has invested $4000 in a mutual fund each
year on your birthday (she...
asked 34 minutes ago