1. A sample of 36 vacation homes built during the past two years in the coastal region had a mean construction cost of $159,000 with a standard deviation of $27,000. Construct a 99% confidence interval for the mean construction cost for all vacation homes built in this region during the past two years. What is the best estimate, and what is the margin of error?

1. A sample of 36 vacation homes built during the past two years in the coastal region had a mean construction cost of $159,000 with a standard deviation of $27,000. Construct a 99% confidence interval for the mean construction cost for all vacation homes built in this region during the past two years. What is the best estimate, and what is the margin of error?

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter8: Sequences, Series, And Probability

Section8.7: Probability

Problem 58E: What is meant by the sample space of an experiment?

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