A Computer Package Was Used to Generate the Following Printout $$X=\text { sale price }$$

question 103

Multiple Choice

A computer package was used to generate the following printout for estimating the mean sale price of homes in a particular neighborhood. $$X=\text { sale price }$$
$$\begin{array}{r}\text {SAMPLE MEAN OF X \( =\quad 46,600 \) }\\\text {SAMPLE STANDARD DEV \( =13,747 \) }\\\text {SAMPLE SIZE OF X \( =15 \) }\\\text {CONFIDENCE \( =\quad 95 \) }\\\\\text {UPPER LIMIT \( =\quad 54,213.60 \) }\\\text {SAMPLE MEAN OF \( X=46,600 \) }\\\text {LOWER LIMIT \( =38,986.40 \) } \end{array}$$

A friend suggests that the mean sale price of homes in this neighborhood is $44,000. Comment on your friend's suggestion.

• A) Based on this printout, all you can say is that the mean sale price might be $44,000.
• B) Your friend is wrong, and you are 95% certain.
• C) Your friend is correct, and you are 95% certain.
• D) Your friend is correct, and you are 100% certain.

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