1. o /2 points StatsByLO1 1.1A.005. I} My Notes 0 Ask Your Teacher The housing industry has been bouncing back in recent years due to improvements in the economy. In a random sample of 25 homes in a particular Michigan city, the mean selling price from the sample was $168,000. (a) The purpose of the statement "the mean selling price from the sample was $168,000" is to do which of the following? (1 estimate by sample (V describe \"T; infer (b) If it was reported, instead, that the estimated mean price of a home in this city would be $168,000, this would be an example of what type of statistics? 7) descriptive statistics (1 exceptional statistics by inferential statistics 0 prescriptive statistics