THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 27

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The mean household income,in dollars,must be estimated for a town that is divided into three districts.The relevant information is shown in the table.

A 95% confidence interval for the population mean that extends $550 on each side of the sample estimate is required.
-A bank holds 750 delinquent mortgages in residential properties.It requires an estimate of the mean current appraised value of these properties.Initially,a random sample of 25 was appraised,and a sample standard deviation of $38,400 was found.If the bank requires a 90% confidence interval for the population mean extending $5,000 on each side of the sample mean,how many more properties must be appraised?

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Definitions:

Calderas

Large, circular depressions formed when a volcano collapses into a void left after the eruption and evacuation of its magma chamber.

Folds

Folds are bends in rock layers or strata, resulting from compressional forces and pressure, integral to the study of structural geology and mountain building.

Iron-Ore Deposits

Concentrations of iron minerals within the Earth that can be mined and processed to extract iron metal.

Iron Formations

Geological formations composed of layered sediments and minerals, predominantly iron-rich, that were deposited in ancient oceanic and lake environments.