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ETF1100 - Business statistics - S2 2025

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If

a survey respondent is selected at random, what is the probability that their dwelling is a house or unit?

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What is your conclusion from this test if the 5% significance level is used? 

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Report the p-value for your test. Give your answer in decimal, to 3 decimal places.

Summary statistics of Area has been provided in the 'Real Estate' worksheet.

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The expected value of the sample mean of the areas of new houses is 481.46. 

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Report the LOWER bound of the 95% confidence interval of the mean Area for OLD houses. Report your answer to 3 decimal places.
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The standard error of the sample mean of the areas of new houses is 25.12. This uses bootstrapping. 

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Report the UPPER bound of the 95% confidence interval of the mean Area for NEW houses. Report your answer to 3 decimal places.
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What would happen if you choose a different level of confidence? Would the confidence intervals get wider or narrower? Choose your answers below.

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There is about a 95% chance for the average house area in the population to be in this confidence interval. 

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Report

the upper bound of the 95% confidence interval of the population mean of Area. Give your answer to three decimal places.

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