Posted by **April** on Thursday, March 26, 2009 at 3:40pm.

The average price for new mobile homes is known to be distributed with a standard deviation of 350. if a random sample of 49 homes resulted in a sample mean of 38500, obtain a 90% confidence interval on the population mean.

- statistics -
**MathGuru**, Friday, March 27, 2009 at 9:19am
Formula:

CI90 = mean + or - 1.645 (sd/√n)

...where + or - 1.645 represents the 90% confidence interval using a z-table, sd = standard deviation, and n = sample size.

Substituting:

CI90 = 38500 + or - 1.645 (350/√49)

Finish the calculation.

I hope this will help get you started.

## Answer This Question

## Related Questions

- Stats - The average price for new mobile homes is known to be distributed with a...
- Statistics - In 2002, the average price of new homes in a certain suburb was $...
- statistics - A simple random sample of 60 items resulted in a sample mean of 80...
- Statistics (42) - A simple random sample of 60 items resulted in a sample mean ...
- urgent help statistic - A random sample of 20 people who resided within the u.s ...
- statistics - According to the local real estate board, the average number of ...
- Statistics - A simple random sample of 60 items resulted in a sample mean of 64...
- Statistics - A 95% confidence interval for a population mean, ?, is given as (18...
- statistics - The population standard deviation (σ) for a standardized ...
- statistics - A simple random sample of a size n is drawn from a population that ...

More Related Questions