35. A real estate agent wants to estimate the mean selling price of two-bedroom homes in a
particular area. She wants to estimate the mean selling price to within $10,000 with an
89.9% level of confidence. The standard deviation of selling prices is unknown but the
agent estimates that the highest selling price is $1,000,000 and the lowest is $50,000.
How many homes should be sampled?
36. For inventory purposes, a grocery store manager wants to estimate the mean number of
pounds of cat food sold per month. The estimate is desired to be within 10 pounds with a
95% level of confidence. A pilot study provided a standard deviation of 27.6 pounds.
How many months should be sampled?
37. It is known that the variance of a population equals 484. A random sample of 81
observations is going to be taken from the population.
a. With a .80 probability, what statement can be made about the size of the margin
of error?
b. With a .80 probability, how large of a sample would have to be taken to provide a
margin of error of 3 or less?
38. In a random sample of 400 registered voters, 120 indicated they plan to vote for
Candidate A. Determine a 95% confidence interval for the proportion of all the
registered voters who will vote for Candidate A.
39. In a random sample of 200 registered voters, 120 indicated they are Democrats. Develop
a 95% confidence interval for the proportion of registered voters in the population who
are Democrats.
40. In a random sample of 500 college students, 23% say that they read or watch the news
every day. Develop a 90% confidence interval for the population proportion. Interpret
your results.