Question

AnnArbor_Rental. Real Estate investment in college towns
continues to promise good returns (*The Wall Street
Journal,* September 24, 2010). Marcela Treisman works for an
investment firm in Michigan. Her assignment is to analyze the
rental market in Ann Arbor, which is home to the University of
Michigan. She gathers data on monthly rents for 2011 along with the
square footage of 40 homes. A portion of the data is shown in the
accompanying table.

Use full data file to calculate

Monthly Rent |
Square footage |

645 |
500 |

675 |
648 |

760 |
700 |

800 |
903 |

820 |
817 |

850 |
920 |

855 |
900 |

859 |
886 |

900 |
1000 |

905 |
920 |

905 |
876 |

929 |
920 |

960 |
975 |

975 |
1100 |

990 |
940 |

995 |
1000 |

1029 |
1299 |

1039 |
1164 |

1049 |
1180 |

1050 |
1162 |

1084 |
1163 |

1100 |
1020 |

1100 |
1150 |

1185 |
1225 |

1245 |
1368 |

1275 |
1400 |

1275 |
1350 |

1400 |
1185 |

1450 |
1200 |

1500 |
1412 |

1518 |
1700 |

1600 |
1440 |

1635 |
1460 |

1635 |
1460 |

1650 |
1170 |

1750 |
1944 |

1950 |
2265 |

1975 |
1700 |

2200 |
4319 |

2400 |
2700 |

- Construct 90% and 95% confidence intervals for the mean rent for all rental homes in Ann Arbor, Michigan.
- Construct a 90% and 95% confidence intervals for the mean square footage for all rental homes in Ann Arbor, Michigan.

Answer #1

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