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The Real Estate Industry Claims That It Is the Best

Question 5

Multiple Choice

The real estate industry claims that it is the best and most effective system to market residential real estate.A survey of randomly selected home sellers in Ontario found that a 99% confidence interval for the proportion of homes that are sold by a real estate agent is 70% to 80%.Explain what "99% confidence" means in this context.


A) There is a 99% chance that the true proportion of home sellers in Ontario who sell their home with a real estate agent is between 70% and 80%.
B) In 99% of the years,between 70% and 80% of homes in Ontario are sold by a real estate agent.
C) About 99% of all random samples of home sellers in Ontario will produce a confidence interval that contains the true proportion of homes sold by a real estate agent.
D) About 99% of all random samples of home sellers in Ontario will find that between 70% and 80% of homes are sold by a real estate agent.
E) 99% of home sellers in Ontario will sell their home with a real estate agent between 70% and 80% of the time.

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