Question: Please solve with steps and formula used 5. Based on data from 2017, the average rent for a 1-bedroom apartment in a big city was

 Please solve with steps and formula used 5. Based on data

Please solve with steps and formula used

from 2017, the average rent for a 1-bedroom apartment in a big

5. Based on data from 2017, the average rent for a 1-bedroom apartment in a big city was estimated to be $1,104 with a standard deviation of $545. You gather data from a random sample of cities for 2018. Download the data from Blackboard (Rent2018.xlsx). Using these data, answer the following questions: a. What is the mean rent across the cities in your sample in 2018? Call this X 2018. b. What is the probability that you would observe the average you observed in 2018 (or lower), if the underlying population distribution of rents is the same as in 2017? C. Does your answer to (b) suggest that the population distribution of rents is likely to have changed a lot over the one year, or is it fairly likely that the mean in 2018 was drawn from the same distribution as in 2017? 6. A survey of more than 20,000 U.S. high school students revealed that 20% of the students say they stole something from a store in the past year. You decide to study this locally and poll a random sample of 10 high school students in your city. a. What is the expected number of students in your sample who say that they stole something from a store in the past year? b. What is the standard deviation of the number of students in your sample who say that they stole something? c. What is the probability that four or more of the 10 students say that they stole something from a store in the past year

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