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

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

Answer 1