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    Confidence interval for the population mean: house prices

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    Suppose that a random sample of eleven recently sold houses in a certain city has mean sales price of $290,000, with a standard deviation of $7,000. Under the assumption that house prices are normally distributed, find a 95% confidence interval for the mean sales price of all houses in this community. Carry your intermediate computations to at least three decimal places. Round your answers to the nearest whole number.

    What is the lower limit of the confidence interval?
    What is the upper limit of the confidence interval?

    Could you also please include a spreadsheet where I can enter the numbers and solve for future problems?

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    Solution Summary

    The solution calculates the confidence interval for recently sold houses.