A computer package was used to generate the following printout for estimating the mean sale price of homes in a particular neighborhood.
sale_price
SAMPLE MEAN OF
SAMPLE STANDARD DEV
SAMPLE SIZE OF X
CONFIDENCE
UPPER LIMIT
SAMPLE MEAN OF X
LOWER LIMIT
Which of the following is a practical interpretation of the interval above?
A) 90% of the homes in this neighborhood have sale prices that fall between $40,149.40 and $52,650.60.
B) We are 90% confident that the true sale price of all homes in this neighborhood fall between $40,149.40 and $52,650.60.
C) We are 90% confident that the mean sale price of all homes in this neighborhood falls between $40,149.40 and $52,650.60.
D) All are correct practical interpretations of this interval.
Correct Answer:
Verified
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