Consider an investigator was interested in the average price of a house in a certain region. They collect a sample of 9 houses and record the price which result in the following data set: 153000, 146000, 132000, 164000, 172000, 159000, 149000, 166000, 161000
Consider an investigator was interested in the average price of a house in a certain region. They collect a sample of 9 houses and record the price which result in the following data set: 153000, 146000, 132000, 164000, 172000, 159000, 149000, 166000, 161000
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 1GP
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Consider an investigator was interested in the average price of a house in a certain region. They collect a sample of 9 houses and record the price which result in the following data set:
153000, 146000, 132000, 164000, 172000, 159000, 149000, 166000, 161000
![2) a) Using the data set from question 1, calculate a 99% confidence interval for the population variance and p
appropriate interpretation for the confidence interval.
b) Calculate a 95% upper confidence bound for o2 and provide an interpretation for this value.
c) Calculate a 95% lower confidence bound for o2 and provide an interpretation for this value.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fde096970-4fbf-4bcb-afca-efa41531f77d%2F43a00069-c1c2-4699-acd8-40dd51a11336%2Fwc04ahs_processed.jpeg&w=3840&q=75)
Transcribed Image Text:2) a) Using the data set from question 1, calculate a 99% confidence interval for the population variance and p
appropriate interpretation for the confidence interval.
b) Calculate a 95% upper confidence bound for o2 and provide an interpretation for this value.
c) Calculate a 95% lower confidence bound for o2 and provide an interpretation for this value.
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