# Statistics

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In 2002, the average price of new homes in a certain suburb was \$145,000. Assume that this mean is based on a random sample of 1000 new home sales and that the sample standard deviation is \$24,000. Construct a 95% confidence interval for the 2002 mean price of all such homes

• Statistics -

95% = mean ± 1.96 SEm

SEm = SD/√n

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