Based on a random sample of one-bedroom apartments in Boston, the 95% confidence interval for the average
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Question:
Based on a random sample of one-bedroom apartments in Boston, the 95% confidence interval for the average monthly rent of all one-bedroom apartments in Boston is ($1700, $2000).
(a) Give the margin-of-error in the study.
(b) Is it possible that the average monthly rent of all one-bedroom apartments in Boston is $1600?
(c) If there were more apartments in the sample, would the 95% confidence interval be longer, shorter or remain the same?
(d) If the number of apartments in the sample were kept the same as before, would a 99% confidence interval be longer, shorter or remain the same?
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