Mathematics, 11.06.2021 03:20 gabrielolivas59
The following data are monthly rents (in dollars) of studio and one-bedroom apartments in Harrisburg, Pennsylvania, in 2007, obtained from a random sample of such apartments advertised at rent. com in July 2007:
500, 549, 569, 575, 585, 600, 630, 680, 705, 790, 845
The mean of these eleven rent prices is $638.91 ,and the standard deviation is $105.93 .
1. Determine the standard error of the sample mean.
2. Describe what the population mean µmeans in this context.
3. Determine a 95% confidence interval for µ.
4. Write a sentence interpreting what this interval means.
5. Would you expect about 95% of the studio and one-bedroom apartments in Harrisburg in July 2007 to have a rent price within this interval? Explain.
Answers: 2
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The following data are monthly rents (in dollars) of studio and one-bedroom apartments in Harrisburg...
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