Question: A college is concerned that the scarcity of housing in
A college is concerned that the scarcity of housing in the immediate area has made it difficult for students to find affordable accommodation. It is claimed that the average monthly rent paid by a student at the college is $500. A random sample of 40 students is surveyed, and their monthly rent costs are recorded. The sample mean was $543.21, with a sample standard deviation of $47.89. The sample data appear normally distributed. Construct a 95% confidence interval estimate for the average monthly rent paid by students at this college. What does this allow you to conclude about the claim that the average monthly rent is $500?
Answer to relevant QuestionsA college wants to estimate the proportion of its students who live at home with their parents. How large a sample size should be taken if the desire is to estimate the proportion to within 3%, with 98% confidence? Past ...How large a sample size should the manufacturer described in Exercise 18 take if it wants to estimate annual maintenance costs for this entry-level compact in the third year of its life to within $10, with 98% confidence? How big a sample is necessary to estimate, to within 2 percentage points, the proportion of new graduates of a business program who are willing to relocate to find a job, with 90% confidence? If your college graduates only ...A Honda automobile dealer was interested in how his sales staff compared with the salespeople at the Ford dealership across the road. The Honda dealer hired a research organization to investigate. The company selected a ...A small company that specializes in gourmet cookies decides to redesign its packaging. The company owner is certain that the new package will lead to increased sales. Weekly sales at a random sample of stores in the Barrie ...
Post your question