Posted by Sam on .
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?