We would like to know: "What is the average price of a house in Franklin County, OH? "

Question

We would like to know: "What is the average price of a house in Franklin County, OH? "
We took a random sample of 100 houses in this county, and found the average to be $120,128 with a population standard deviation of $50,324. Use the sample data to provide an answer to the question. Write your answer as a sentence.

Answer 1

 

 Then the average price is between 120128 - 1.96*50324/10 and  120128 + 1.96* 50324/10)

 

                               That is between 120128 - 1.96*5032.4 and 120128 + 1.96*5032.4

 

                                                        120128 - 9863.504 and 120128 + 9863.504

 

                                                        110264.50 and 129991.50

 

                         with 95% certainty