Question

**Please answer 7.3

7.3 More on apartment rents. Refer to Exercise 7.1 (page 360). Construct a
95% confidence interval for the mean monthly rent of all advertised one-bedroom
apartments.

Reference:

7.1 One-bedroom rental apartment. A large city newspaper contains several
hundred advertisements for one-bedroom apartments. You choose 25 at random
and calculate a mean monthly rent of $703 and a standard deviation of $115.
(a) What is the standard error of the mean?
(b) What are the degrees of freedom for a one-sample t statistic?

Answer 1

given data are:-

sample size(n) = 25

sample mean () = 703

sample sd (s) = 115

degrees if freedom = (n-1) = (25-1) = 24

t critical value for alpha= 0.05, df = 24,both tailed test be:-

[ from t distribution table]

the 95% confidence interval for the mean monthly rent of all advertised one-bedroom apartments be:-

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