A Los Angeles research group publishes an an- Lual report on trends in real estate. Suppose 200 randomly selected real estate ex- perts are asked whether they believe next year

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter11: Data Analysis And Probability
Section11.4: Collecting Data
Problem 6E
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A Los Angeles research group publishes an an-
nual report on trends in real estate.
a) Suppose 200 randomly selected real estate ex-
perts are asked whether they believe next year
will be a good time to buy real estate. If 78%
reply in the affirmative, determine a 90% confi-
dence interval for the proportion of all real
estate experts who believe next year will be a
good time to buy real estate.
b) Interpret your results in words.
Transcribed Image Text:A Los Angeles research group publishes an an- nual report on trends in real estate. a) Suppose 200 randomly selected real estate ex- perts are asked whether they believe next year will be a good time to buy real estate. If 78% reply in the affirmative, determine a 90% confi- dence interval for the proportion of all real estate experts who believe next year will be a good time to buy real estate. b) Interpret your results in words.
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