ex_0524 - Exercise on May24. 1. Question 1: A sample of 10...

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1. Question 1: A sample of 10 unfurnished one-bedroom apartments in the north area of the city shows a sample mean rent of $540 per month. Assume the standard deviation is $80. Find the 95% confidence interval for the mean monthly rent for all unfurnished one-bedroom apartments in the north area. A) $540 $80 B) $540 $50 C) $540 $157 D) $540 $25 Question 2: Suppose you are comparing the south and north areas of your city. The south area has an average rent of $600 per month for a similar sized apartment. Would you conclude that the north area has a higher average monthly rent for the same size apartment? A) Yes B) No Question 3: Which of the following would result in an increased margin of error? A) Increasing the sample size. B) Increasing the confidence level. C) Using a smaller standard deviation. D) Using a larger sample mean. Question 4: In order to have a margin of error equal to $40, what should the new sample size be? for sample sizes, you can only round up. A) approx 4
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ex_0524 - Exercise on May24. 1. Question 1: A sample of 10...

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