K300 Project 4    Confidence Intervals
Date Due:   Mon 11/29 or  Tues 11/30                                          Value:  25 pts
Objective:  Confidence Intervals and Hypothesis Tests      Late Penalty:  5 points/class day

 I.  Consider the following list of Real Estate Home Selling prices:
 1.  179,000   2.  126,500  3.  134,500  4.  125,000    5.  142,000 
 6.  164,000   7.  146,000  8.  129,000   9.  141,900 10.  135,000
11.  118,500  12. 160,000 13.   89,900  14. 169,000 15.  127,500 
16.  162,500  17.  152,000 18.  122,500  19.  220,000 20.  141,000
21.   80,500  22.  152,000 23.  231,750  24.  180,000  25.  185,000
26.  265,000  27.  135,000 28.  203,000  29.  141,000 30.  159,000
31.  182,000 32.  208,000  33.   96,000 34.  156,000  35.  185,500
36.  275,000  37.  144,900  38.  155,000 39.  110,000  40.  154,000
41. 151,000  42.  141,000  43.  119,000 44.  108,500  45.  126,500
46.  302,000 47.  130,000 48.  140,000  49.  123,500 50.  153,500
51.  194,900 52.  165,000 53.  179,900  54.  194,500 55.  127,500
56.  170,000  57.  160,000 58.  135,000  59.  117,000  60.  235,000
61.  223,000 62.  163,500 63.   78,000  64.   187,000 65.  133,000
66.  125,000 67.  116,000 68.  135,000  69.  194,500 70.   99,500
71.  152,500 72.  141,900 73.  139,900  74.  117,500 75.  150,000
76.  177,000 77.  136,000 78.  158,000  79.  211,900 80.  165,000
81.  183,000 82.   85,000 83.  126,500  84.  162,000  85.  169,000
86.  175,000 87.  267,000 88.  150,000  89.  115,000  90.  126,500
91.  215,000 92.  190,000 93.  190,000  94.  113,500  95.  116,300
96.  190,000 97.  145,000 98.  269,900  99.  135,500 100.  190,000
101.   98,000 102.  137,000 103.  108,000  104.  120,500  105.  128,500
106.  142,500 107.   72,000 108.  124,900  109.  134,000 110.  205,400
111.  217,000 112.   94,000  113.  189,000  114.  168,000 115.  133,000
116.  180,000 117.  139,500 118.  210,000  119.  126,500 120.  285,000
121.  195,000 122.   97,000 123.  117,000  124.  150,000 125.  180,500
126.  160,000 127.  181,500 128.  124,000  129.  165,000  130.  122,000 
131.  132,000 132.  145,900 133.  156,000  134.  136,000  135.  142,000
136.  140,000 137.  144,900 138.  133,000  139.  196,800 140.  121,900
141.  126,000 142.  164,900 143. 172,000  144.  100,000 145.  129,900
146.  110,000 147.  131,000 148.  107,000  149.  165,900 150.  165,900

A.  Find the mean and standard deviation of this sample of 150 values.

B.  a)  Construct the 95%  confidence interval for the mean home selling price.
     b)  Construct the 99% confidence interval for the mean home selling price.

C.  You want to estimate the mean selling price of all homes in Dutchess County.  Find the
      sample size necessary to be 95% confident that you are within $5000 of the population
      mean.  Use the value of s from the sample of 150 selling prices above to estimate .
 
 
 

II.  Use a 99% confidence level to test the following hypotheses.

A.  Use the data below to test the claim that the percentage of left-handed people is less than15%.

The following is a list of values which indicate whether 191 people are 1 = right handed, 2 = left
handed or 3 = uses both hands.  Note:  Include 3 with the count of left-handed people.

1 1 1 1 1 1 1 1 2 1 1 1 1 1 1 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2 1 1 1 1 1 1 1 1 1 1 2 1 1 1 1 1 1 1 3 1 1 1 1 1 1 1 1  1 1 1 1 1 1 1 1 2 1 1 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2 1 1 1 1 1 1 1 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2 1 1 1 1 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2 1 1 1 1 1 1 1

B.  Refer the real estate data above (I).  For the same time period during which the 150 homes were sold, U.S. Housing Markets reported that the average price of a home in the United States was $121,000.  Test the claim that the sample of 150 homes comes from a population with a mean selling price that is greater than the national average of $121,000.