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Obtain the point estimate for the population mean budget for such home improvement jobs by using MINITAB.

MINITAB procedure:

Step1: Choose Stat $>$Basic Statistics $>$Display Descriptive Statistics.

Step2: In Variables enter the columns Variable.

Step3: Click OK

MINITAB output:

Descriptive Statistics: BUDGET

$\begin{array}{lrrr}\text{Variable}& \mathrm{N}& {\mathrm{N}}^{*}& \text{Mean}\\ \text{BUDGET}& 45& 0& 2886\end{array}$

The population point estimate from MINITAB indicates that the budget for such home renovation projects is$\$2,886$

Calculate the $95\%$ confidence interval for the average home improvement budget.

Thus, the $95\%$ confidence interval for the mean budget for such home improvement jobs is $(2,483.51,3,288.49)$

To create a normal probability plot for the budget, use MINITAB.

Procedure for MINITAB:

Step 1: Select Probability Plot from the Graph menu.

Step 2: Click OK after selecting Single.

Step 3: In the Graph variables section, type BUDGET in the column.

Step 4: Click the OK button.

OUTPUT FROM MINITAB:

To create a budget histogram, use MINITAB.

Procedure for MINITAB:

Step 1: Select Histogram from the Graph menu.

Step 2: Click OK after selecting Simple.

Step 3: In Graph variables, type BUDGET in the corresponding column.

Step 4: Click the OK button.

MINITAB OUTPUT:

With a higher sample size, the distribution of budget is generally symmetric, as seen by the histogram and normal probability plot. As a result, it is evident that the budget for such home renovation projects is around average.

With a higher sample size, the distribution of budget is generally symmetric, as seen by the histogram and normal probability plot. As a result, it is evident that the budget for such home renovation projects is around average.

Because the sample size is larger, a budget for such home renovation projects is about normal. As a result, utilizing the Central Limit Theorem to ensure that the estimated confidence interval is approximately right is sufficient.