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A Computer Package Was Used to Generate the Following Printout

Question 22

Multiple Choice

A computer package was used to generate the following printout for estimating the sale price of condominiumsin a particular neighborhood.  X= sale-price  SAMPLE MEAN OF X=46,600 SAMPLE STANDARD DEV =13,747 SAMPLE SIZE OF X =15 CONFIDENCE =90 UPPER LIMIT =52,850.60 SAMPLE MEAN OF X =46,600 LOWER LIMIT =40,349.40\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 } = &90\\\\\text { UPPER LIMIT }= &52,850.60 \\\text { SAMPLE MEAN OF X }= & 46,600 \\\text { LOWER LIMIT }= &40,349.40\end{array}

A friend suggests that the mean sale price of homes in this neighborhood is $43,000. Comment on your friend?ssuggestion.


A) Based on this printout, all you can say is that the mean sale price might be $43,000.
B) Your friend is wrong, and you are 90% certain.
C) Your friend is correct, and you are 90% certain.
D) Your friend is correct, and you are 100% certain.

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