13. A real estate agent wants to estimate the average age of those buying invest

Question

13. A real estate agent wants to estimate the average age of those buying investment property in his area. He randomly selects 15 of his clients who purchased an investment property and obtains the data shown. Use this information to answer the following questions. Click the icon to view a boxplot and a normal probability plot. 40 32 49 43 39 46 55 44 42 43 58 48 50 47 44 Prir The buyer ages are approximately normally distributed and the sample does not contain any outliers. Construct a 95% confidence interval for the mean age for all the real estate agent's clients who purchased investment property (Use ascending order. Round to one decimal place as needed.) Interpret this interval. O A. We are 95% confident that the interval actually does contain the true value of the mean. B. There is a 95% chance that the true value of the mean will fall in the interval. C. We are 95% confident that the interval actually does not contain the true value of the mean. 0 D. There is a 95% chance that the true value of the mean will not fall in the interval Use the normal probability plot and boxplot to assist in verifying the model requirements. A. The requirements are met since all the data lie within the bounds of the normal probability plot O B. The requirements are not met since not all the data lie within the bounds of the normal ° C. The requirements are not met since all the data lie within the bounds of the normal probability and the boxplot does not reveal any outliers probability plot and the boxplot does reveals outliers plot and the boxplot does not reveal any outliers. The requirements are met since not all the data lie within the bounds of the normal probability plot and the boxplot does reveals outliers. D.

Explanation / Answer

The statistical software output for this problem is:

One sample T confidence interval:
: Mean of variable

95% confidence interval results:

Hence,

95% confidence interval: (41.8, 48.9)

Interpretation: Option A is correct.

Verification: Option A is correct.

Variable Sample Mean Std. Err. DF L. Limit U. Limit Data 45.333333 1.6494347 14 41.795648 48.871019

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