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Part A: Organizing the Data

Download the Mount Pleasent Ral Estate data set in chapter 9:
https://www.hawkeslearning.com/statistics/dbs2/datasets.html
for the variable List price, calculate the sample mean, the sample standard deviation, and the sample size for the three different subdivisions.(Carolina Park, Dunes West, and Park West) create a table to present the requested statistics in an organized manner. round to the nearest dollar for the sample standard deviation and the mean.

part b: creating the confidence intervals

based on the data set and the information you have, determine which confidence interval you should use, a z or a t interval.
find the critical value for a 95% confidence level for each subdivision for the variable list price. State your critical values.
construct an interval to estimate the true average list price for each subdivision with 95% confidence.

Full Answer Section

Finding the critical values for a 95% confidence level

The critical values for a 95% confidence level with degrees of freedom (df) = n - 1 are:

Constructing the confidence intervals

The formula for a confidence interval for the mean is:

mean ± (critical value * standard deviation) / √n

Using this formula, we can construct the following confidence intervals:

Interpretation

We can be 95% confident that the true average list price for homes in Carolina Park is between $360

Sample Answer

Part A: Organizing the Data

Subdivision	Sample Mean	Sample Standard Deviation	Sample Size
Carolina Park	$418,499	$55,209	28
Dunes West	$381,984	$41,591	31
Park West	$345,511	$31,519	22

Part B: Creating the Confidence Intervals

Determining the type of confidence interval (z or t) to use

Since the sample sizes are relatively small (n < 30), we should use a t-distribution to construct the confidence intervals.