[4 marks] The mean monthly rent paid by University students is normally distributed. A pilot study of 25 students was performed by USSA to investigate the mean monthly rent. The study cost $150.00 and sampled 25 subjects. Its results indicated that the bound of error of estimation was $30 with a 90% confidence. Assuming that the cost is proportional to the number of students, how much is a full study going to cost to determine the mean monthly rent of university students to within $10 with 95% confidence?
Get Answers For Free
Most questions answered within 1 hours.