You want to rent an unfurnished one-bedroom apartment in Boston next year. The mean monthly rent for a simple random sample of 32 apartments advertised in the local newspaper is $1,400. Assume that the sample standard deviation is known to be $220. Calculate the margin of error for the 99% confidence interval for ?. Find a 99% confidence interval for the mean monthly rent for unfurnished one-bedroom apartments available for rent in this community. what is the width of this 99% confidence interval for ?. Does the confidence interval give us information about the statistic or the parameter? How should we interpret a 99% confidence interval for the mean? What if the sample size was increased to 80 for the 99% confidence interval, how would the confidence interval change with this larger sample size? No calculations necessary. Suppose you were to change the confidence level in (b) to 95% using the same sample. How would the confidence interval change? No calculations necessary.

You want to rent an unfurnished one-bedroom apartment in Boston next year. The mean monthly rent for a simple random sample of 32 apartments advertised in the local newspaper is $1,400. Assume that...

Jun 08, 2022