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A Computer Package Was Used to Generate the Following Printout X=X =

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A computer package was used to generate the following printout for estimating the mean sale price of homes in a particular neighborhood. X=X = sale_price

SAMPLE MEAN OF X =46,600= \quad 46,600
SAMPLE STANDARD DEV =13,747= 13,747
SAMPLE SIZE OF X =15= \quad 15
CONFIDENCE =95= \quad 95

UPPER LIMIT =54,213.60= 54,213.60
SAMPLE MEAN OF X =46,600= \quad 46,600
LOWER LIMIT =38,986.40= 38,986.40

A friend suggests that the mean sale price of homes in this neighborhood is $48,000. Comment on your friend's suggestion.


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