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[Solution Library] The Patterson Real-Estate Company has 20 listings for homes in Fresno; California. The number of days- that each house has been on the

Question: The Patterson Real-Estate Company has 20 listings for homes in Fresno; California. The number of days- that each house has been on the market without selling is as follows:

26
45
16
77
33
50
19
23
55
107
88
15
7
19
30
60
80
66
31
17
  1. Considering these 20 values to be the population of interest, what is the mean of the population?
  2. The company is making a sales brochure and wishes to feature 5 homes selected at random from the list. The number of days the 5 sampled homes have been on the market is

    If these 5 houses were used to estimate the mean for all 20, what would the sampling error be?
  3. What is the range of possible sampling error if 5 homes are selected at random from the population?

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Solution: The downloadable solution consists of 4 pages
Deliverable: Word Document


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