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

Question 67

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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= sale price X=\text { sale price }
SAMPLE MEAN OF X =46300SAMPLE STANDARD DEV =13747SAMPLE SIZE OF X =25CONFIDENCE =90UPPER LIMIT =51003.90SAMPLE MEAN OF X=46300LOWER LIMIT =31596.10\begin{array}{r}\text {SAMPLE MEAN OF X \( =\quad 46300\)}\\\text {SAMPLE STANDARD DEV \( =13747 \)}\\\text {SAMPLE SIZE OF X \( =25 \)}\\\text {CONFIDENCE \( =\quad 90 \)}\\\\\text {UPPER LIMIT \( =\quad 51003.90 \)}\\\text {SAMPLE MEAN OF \( X=46300 \)}\\\text {LOWER LIMIT \( =31596.10 \)} \end{array}

A friend suggests that the mean sale price of homes in this neighborhood is $42,000. Comment on your friend's suggestion.

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