The headline in an independent paper that services a large metropolitan area stated that 32% (p = 0.32) of houses cost less than $250,000. Sayed read the headline and decided to compute a confidence interval for the proportion of all houses in that area that cost less than $250,000. His 95% confidence interval was based on a simple random sample of 100 houses from the area, and the limits of the interval were from 0.25 to 0.39.

Select the statement that represents the correct interpretation of the confidence interval.

Between 25% and 39% of houses sampled in the metro area will cost less than $250,000.

95% of houses sampled from the metro area will cost between $250,000 and $390,000.

Sayed is certain that the true proportion of houses that cost less than $250,000 is between 25% to 39%.

There is a 95% chance that the proportion of houses that cost less than $250,000 is between 25% to 39%.

Sayed is 95% confident that the true proportion of houses that cost less than $250,000 is between 25% to 39%.

Answer rating: 100% (QA)

The statement that best suits th... View the full answer