Data for a Particular Subdivision near Downtown Houston Indicate That

question 146

Multiple Choice

Data for a particular subdivision near downtown Houston indicate that the average price per square foot for a home is $100 with a standard deviation of $5 (normally distributed) .What is the probability that the average price per square foot for a home is greater than $90?

• A)0
• B)0.023
• C)0.159
• D)0.977

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Definitions:

Significance Level

The threshold at which a result is considered statistically significant, typically set at a p-value less than 0.05.

Sample Variance

A measure of variance calculated from a sample of data, representing the average of the squared differences from the mean.

Population Variance

A measure that quantifies the spread of a set of data points in a population, calculated as the average of the squared differences from the Mean.

Confidence Interval

A spectrum of numbers resulting from sample measurements, which is thought to cover the value of an unidentified population feature.