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A Computer Package Was Used to Generate the Following Printout

Question 31

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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= saleprice SAMPLE MEAN OF X=46300SAMPLE STANDARD DEV =13747SAMPLE SIZE OF X=25CONEIDENCE=90 UPPER LIMIT =51003.90 SAMPLE MEAN OF X =46300 LOWER LIMIT =41596.10\begin{array}{rl}X=&\text { saleprice }\\\\\text {SAMPLE MEAN OF X} =&46300 \\\text {SAMPLE STANDARD DEV } =&13747 \\ \text {SAMPLE SIZE OF X} =&25 \\\text {CONEIDENCE}=& 90 \\\\\text { UPPER LIMIT }= & 51003.90 \\\text { SAMPLE MEAN OF X }= & 46300 \\\text { LOWER LIMIT }= & 41596.10\end{array}

A friend suggests that the mean sale price of homes in this neighborhood is $47,000. Comment on your friend's suggestion.

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