Homework Help: research & Evaluation

Posted by Sam on Wednesday, November 2, 2011 at 9:25pm.

The housing market in my area has seen a 12% trend downward in the average price. Further, the time to closing appears to have taken more time as compared to 3 years ago.

Here are the values for the average time to close for the houses in the area.
Mean = 22.3 weeks Std deviation = 5.5
Sampling 30 houses, and using a 95% confidence, would you expect the time to close to be 24 weeks?
Why or why not?

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