magine that you want to estimate the average home value in your neighborhood.   The standard deviation of home values in your neighborhood is known to be σ = $100,000.  You want to create a 99% confidence interval that is within $45,000 of the true average home value.  What is the minimum number of homes you need to sample?

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 4CYU
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Imagine that you want to estimate the average home value in your neighborhood.   The standard deviation of home values in your neighborhood is known to be σ = $100,000.  You want to create a 99% confidence interval that is within $45,000 of the true average home value.  What is the minimum number of homes you need to sample?  

 
 
 
 
 
 
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