A Computer Package Was Used to Generate the Following Printout

question 24

Multiple Choice

A computer package was used to generate the following printout for estimating the sale price of condominiumsin a particular neighborhood. $\begin{array}{rl}\text { X}=&\text { sale-price }\\\\\text { SAMPLE MEAN OF X} =&46,600\\\text { SAMPLE STANDARD DEV }=&13,747\\\text { SAMPLE SIZE OF X }= &15\\\text { CONFIDENCE } = &99\\\\\text { UPPER LIMIT }= & 57,166.70 \\\text { SAMPLE MEAN OF X }= & 46,600 \\\text { LOWER LIMIT }= & 36,033.30\end{array}$
What assumptions are necessary for any inferences derived from this printout to be valid?

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Definitions:

Buyers

Individuals or entities that purchase goods or services.

Import Quotas

Limits set by a government on the quantity or value of goods that can be imported into a country, often used to protect domestic industries from foreign competition.

Tariffs

Taxes imposed by a government on imported goods, often to protect domestic industries or to raise revenue.

Domestic Sellers

Domestic sellers refer to businesses or individuals that sell goods or services within their own country.