A real estate agent wants to estimate the average age of those buying investment

Question

A real estate agent wants to estimate the average age of those buying investment property in his area. Herandomly selects 15 of his clients who purchased an investment property and obtains the data shown. Use this information to answer the following questions 38 29 51 42 37 49 53 47 43 44 57 48 56 41 43 Click the icon to view a boxplot and a normal probability plot. and the sample does not contain any out ers onstruct a 90% confidence interval ho The buyer ages are approximately normal y distribute investment property or he mean age or al he real estate agents c ents urchase (Use ascending order. Round to one decimal place as needed.)

Explanation / Answer

x <- c(38,29,51,42,37,49,53,47,43,44,57,48,56,41,43)
> mean(x)
[1] 45.2
> sd(x)
[1] 7.542262

n = 15 , 90 % confidence interval

n = 15
> s = sd(x)

> a = mean(x)
> error = qt(0.95,df=n-1)*s/sqrt(n)
> left <- a-error
> right <- a+error
> left
[1] 41.77002
> right
[1] 48.62998

a) n = (z * s /e)^2

= (1.96* 13.7/4)^2

= 45.064

hence 46

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