TABLE 8-18 A Wealthy Real Estate Investor Wants to Decide Whether It

question 2

Short Answer

TABLE 8-18
A wealthy real estate investor wants to decide whether it is a good investment to build a high-end shopping complex in a suburban county in Chicago.His main concern is the total market value of the 3,605 houses in the suburban county.He commissioned a statistical consulting group to take a sample of 200 houses and obtained a sample mean market price of $225,000 and a sample standard deviation of $38,700.The consulting group also found out that the mean differences between market prices and appraised prices was $125,000 with a standard deviation of $3,400.Also the proportion of houses in the sample that are appraised for higher than the market prices is 0.24.
-Referring to Table 8-18,what will be the 90% confidence interval for the population proportion of houses that will be appraised for higher than the market prices?

---

Definitions:

Neonatal Deaths

Neonatal deaths are deaths that occur in the first 28 days of an infant's life, often due to preterm birth, congenital anomalies, or perinatal conditions.

Preterm Babies

Infants born before completing the standard 37 to 40 weeks of gestation, often requiring specialized medical care due to underdeveloped organs.

Encouraging Mothers

The act of providing support, confidence, or hope to mothers, aiming to positively influence their parenting skills, emotional well-being, and the overall family environment.

Postpartum Depression (PPD)

A type of mood disorder associated with childbirth which can affect both sexes, characterized by sadness, fatigue, changes in sleeping and eating patterns, reduced libido, and frequent mood changes.