Answer:
[293.21;372.28]
Step-by-step explanation:
Hello!
You are asked to construct a 90% Confidence Interval for the mean duration of the foreclosure process in Boston.
The Study variable is X: duration of foreclosure in Boston. X≈N(μ;σ²)
Sample n=8
To study the population sample you can use either a Z or a t-statistic. Since the sample is less than 10, I'll choose a Student t-statistic, because it is more potent with small samples than the Z, but either one is a good choice.
X[bar]= 332.75
S= 59.01
[tex]X[bar] ± t_{n-1; 1-\alpha /2}*\frac{S}{\sqrt{n} }[/tex]
[tex]332.75 ± 1.895*\frac{59,01}{\sqrt{8} }[/tex]
[293.21;372.28]
With a confidence level of 90% you'd expect the interval [293.21;372.28] to contain the population mean of the duration of the foreclosure process in Boston.
I hope you have a SUPER day!