1. The real estate industry claims that it is the best andmost effective system
ID: 2952197 • Letter: 1
Question
1. The real estate industry claims that it is the best andmost effective system to market residential real estate. Asurvey ofrandomly selected home sellers in Illinois found that a 99%confidence interval for the proportion of homes that ar e sold by areal estste agent is 70% to 80%. Explain what "99% confidence"means in this text. a. About 99% of all randomly samples of home sellers inIllinois will find that between 70% and 80% of homes aresold by areal estate agent. b. About 99% of all random samples of home sellers in Illinoiswill produce a confidence intrval that contains the true proportionof homes sold by a real estate agent. c. In 99% of the years, between 70% and 80% of home inIllinois are sold by a real estate agent. d. 99% of home sellers in Illinois will sell their homeswith a real estate agent between 70% and 80% of the time. e. There is a 99% chance that the true proportion of homesellers in Illinois who sell their home with a real estate agent idbetween 70% and 80%. 1. The real estate industry claims that it is the best andmost effective system to market residential real estate. Asurvey ofrandomly selected home sellers in Illinois found that a 99%confidence interval for the proportion of homes that ar e sold by areal estste agent is 70% to 80%. Explain what "99% confidence"means in this text. a. About 99% of all randomly samples of home sellers inIllinois will find that between 70% and 80% of homes aresold by areal estate agent. b. About 99% of all random samples of home sellers in Illinoiswill produce a confidence intrval that contains the true proportionof homes sold by a real estate agent. c. In 99% of the years, between 70% and 80% of home inIllinois are sold by a real estate agent. d. 99% of home sellers in Illinois will sell their homeswith a real estate agent between 70% and 80% of the time. e. There is a 99% chance that the true proportion of homesellers in Illinois who sell their home with a real estate agent idbetween 70% and 80%.Explanation / Answer
The answer is e. I hope that is what you were looking for. A thru dare all misinterpretations.
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