Question

A Real Estate Company has 20 listings for homes in a certain city. The number of days each house has been on the market without selling is shown in the accompanying table. Complete parts a through c below.

37	83	28	21	12	57	39	52	35	107
45	34	12	70	103	86	37	63	60	18

a. Considering these 20 values to be the population of​ interest, what is the mean of the​ population?The population mean is days. ​(Round to two decimal places as​ needed.)

b. The company is making a sales brochure and wishes to feature 5 homes selected at random from the list. The number of days the 5 sampled homes have been on the market are listed below. If these 5 houses were used to estimate the mean for all 20, what would the sampling error​ be?

57

12

103

35

83

The sampling error for this sample is days. ​(Round to two decimal places as​ needed.)

c. What is the range of possible sampling error if 5 homes are selected at random from the​ population?

The possible sampling error ranges from days to days. ​(Round to two decimal places as needed. Use ascending​ order.)

Answer 1