1. Calculate the confidence interval and the error bound. a. Confidence Interval: b. Error Bound: 2. How much area is in both tails (combined)? a = 3. How much area is in each tail? 8|N a 2
1. Calculate the confidence interval and the error bound. a. Confidence Interval: b. Error Bound: 2. How much area is in both tails (combined)? a = 3. How much area is in each tail? 8|N a 2
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.5: Comparing Sets Of Data
Problem 29PFA
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Need help of the Find the Confidence Interval section
Transcribed Image Text:Student Learning Outcomes
The student will calculate the 90% confidence interval for the mean cost of a home in the
area in which this school is located.
●
The student will interpret confidence intervals.
The student will determine the effects of changing conditions on the confidence interval.
Collect the Data
Check the Real Estate section in your local newspaper. Record the sale prices for 35 randomly
selected homes recently listed in the county.
NOTE
Many newspapers list them only one day per week. Also, we will assume that homes come up
for sale randomly.
1. Complete the table:
284,900
595,000
485,000
334,000
342,000
344,000
485,900
265,000
309,900
420,000
415,000
414,999
314,600
370,000
252,500
335,000
389,900
317,400
2,740,000
750,000
375,600
270,00
33,900
280,000
949,900
584,072
367,400
326,900
374,900
399,000
449,900
338,800
795,000
408,9000
1,650,000
Transcribed Image Text:Describe the Data
1. Compute the following:
a. x = 380,116
b. Sx = 295,161
c. n = 35
2. In words, define the random variable X.
a. This number is the random variable that homes come up for sale.
Find the Confidence Interval
1. Calculate the confidence interval and the error bound.
a. Confidence Interval:
b. Error Bound:
2.
How much area is in both tails (combined)? a =
3. How much area is in each tail?
α
2
4. Fill in the blanks on the graph with the area in each section. Then, fill in the number line
with the upper and lower limits of the confidence interval and the sample mean.
OIN
C.L. =
JIN
||
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Follow-up Question
Some students think that a 90% confidence interval contains 90% of the data. Use the list of data on the first page and count how many of the data values lie within the confidence interval. What percent is this? Is this percent close to 90%? Explain why this percent should or should not be close to 90%.
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