Question
In: Statistics and Probability
) The housing market has recovered slowly from the economic crisis of 2008. Recently, in one...
) The housing market has recovered slowly from the economic
crisis of 2008. Recently, in one large community, realtors randomly
sampled 36 bids from potential buyers to estimate the average loss
in home value. The sample showed the average loss was $9,560 with a
standard deviation of $1500.
a) Find a 95% confidence interval for the mean loss in value
per home. (Use your calculator to create this interval. Do not do
the calculations by hand.)
b) Interpret this interval.
c) Suppose the standard deviation of the losses had been $3000
instead of $1500. What would the larger standard deviation do to
the width of the confidence interval (assuming the same level of
confidence)?
Solutions
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orchestra answered 2 years agoRelated Solutions
The housing market has recovered slowly from the economic crisis of 2008. Recently, in one large...
The housing market has recovered slowly from the economic crisis
of 2008. Recently, in one large community, realtors randomly
sampled 28 bids from potential buyers to estimate the average loss
in home value. The sample showed the average loss was $8644 with a
standard deviation of $1157.
A. Find a 99% confidence interval for the mean loss in value
per home.
($__,$__ )
The housing market has recovered slowly from the economic crisis of 2008. Recently, in one large...
The housing market has recovered slowly from the economic crisis
of 2008. Recently, in one large community, realtors randomly
sampled 3434 bids from potential buyers to estimate the average
loss in home value. The sample showed the average loss was $8637
with a standard deviation of $1396.
Find a 95% confidence interval for the mean loss in value per
home.
($___ , $___) round to the nearest whole number as needed
The housing market has recovered slowly from the economic crisis of 2008. Recently, in one large...
The housing market has recovered slowly from the economic crisis
of 2008. Recently, in one large community, realtors randomly
sampled 30 bids from potential buyers to estimate the average loss
in home value. The sample showed the average loss was $9008 with a
standard deviation of $1909. Complete parts (a) through (c)
below.
a) What assumptions and conditions must be checked before
finding a confidence interval? How would one check them?
A. The data are assumed to be dependent and...
The housing market has recovered slowly from the economic crisis of 2008. Recently, in one large...
The housing market has recovered slowly from the economic crisis
of 2008. Recently, in one large community, realtors randomly
sampled 2626 bids from potential buyers to estimate the average
loss in home value. The sample showed the average loss was
$87208720 with a standard deviation of $17551755. Complete parts
a and b below.
b) Find a 90% confidence interval for the mean loss in value
per home.
($nothing , $nothing)
The housing market has recovered slowly from the economic crisis of 2008. Recently, in one large...
The housing market has recovered slowly from the economic crisis
of 2008. Recently, in one large community, realtors randomly
sampled 32 bids from potential buyers to estimate the average loss
in home value. The sample showed the average loss was $8251 with a
standard deviation of $1739 .Find a 90% confidence interval for
the mean loss in value per home. Answer should be= ($__, $__)
Thank you, please! Confidence Intervals for Means 4) The housing market recovered slowly from the economic...
Thank you, please!
Confidence Intervals for Means
4) The housing market recovered slowly from the economic crisis
of 2008. Recently, in one large community, realtors randomly
sampled 40 bids from potential buyers to estimate the average loss
in home value. The sample showed the average loss from the peak in
2008 was $8370 with a standard deviation of $2500.
a) Find a 98% confidence interval for the mean loss in value per
home. (3 points)
b) Interpret the interval you...
Great recession in 2008 experienced the burst of housing market bubble, which led financial market crisis....
Great recession in 2008 experienced the burst of housing market
bubble, which led financial market crisis.
You were hired as a chief economic advisor in a major corporate,
and they would like to know more about macroeconomic conditions in
2008.
Your responded one of followings;
Aggregate demand fell in 2008. Here are the reasons;
Unemployment and lower income, resulting from a drop in consumer
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Assume that the U.S. economy has recovered from the financial
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The fallout from the financial crisis of 2008 included an overheated real estate market, fueled by...
The fallout from the financial crisis of 2008 included an
overheated real estate market, fueled by home purchase incentives,
poor lending practices, and securitization through high-risk,
mortgage-backed securities, which led to a near collapse of global
capital markets. As a consequence, many have argued that if the
financial institutions had been required to report their loans (and
loan-backed investments) at fair value instead of cost, large
losses would have been reported earlier. This would have signaled
regulators to the problems...
explain the housing market supply and demand in your own words. Hint: housing crisis in California.
explain the housing market supply and demand in your
own words. Hint: housing crisis in California.
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