probability is about .95 that the 95% confidence interval will include the true population parameter. On the other hand, 2.5% of the time the highest value in the confidence interval will be smaller than the true value, while 2.5% of the time the smallest value in the confidence interval will be greater than the true value.
Set prices with room to move. Most people expect prices at garage sales to be just the starting price and are about 25% to 50% above the seller's (ie your) bottom-line price to allow for negotiating. The amount depends on the condition of the item and how much you are prepared to haggle.
Guide price. A guide price gives an indication of the price that the property is expected to sell for and what the vendor is hoping to achieve. Guide prices are for information only and shouldnât be relied on as an indication of reserve price, or representing professional valuations for any purpose.he offer to buy property at a specific price. Completion. On completion of the sale of the lot there is usually a defined time period from the auction to the completion date in which the sale must be finalised.