Question: Week 07 Written Homework Section P.1 & Review No software output is required for this assignment. SHOW ALL WORK 1. Below is rent data (in

Week 07 Written Homework Section P.1 & Review No software output is required for this assignment. SHOW ALL WORK 1. Below is rent data (in dollars) from a random sample of 20 Manhattan apartments. 2275 5495 2250 2325 1927 3150 2932 2300 2650 3100 1856 3290 4050 2225 2600 3200 3500 2900 4800 3305 a. We wish to estimate u = mean rent for Manhattan apartments. What is the value from the sample that is the best estimate? Give correct notation and report your answer with two decimal places. Below is a bootstrap distribution based on n = 2000 samples: Bootstrap Dotplot of Mean Left Tail . Two-Tail Right Tail samples = 2000 mean = 3000.184 50 std. error= 199.939 40 30 20 10 2400 2600 2800 3050 3200 3400 3600 3800 3000.184 b. Using the standard error method, construct a 95% confidence interval for the mean rent for a Manhattan apartment. Show your work and round your final answer to two decimal places. c. Using the percentile method, construct a 98% confidence interval for the mean d. Write a sentence interpreting the confidence interval from part c. Sections P.1 & Review MATH 1342 Page 1

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