At a particular university in an urban area, official policy mandate.docx

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At a particular university in an urban area, official policy mandates that university-owned student housing shall rent for no more than 80% of the market rate for comparable housing. Rent for all two-bedroom university-owned student apartments is $650/month. All the university-owned two- bedroom student apartments have one bathroom, no view, and are comparable in construction, size, age, amenities, etc. To determine whether the rent satisfies the rules, an administrator proposes to compile as complete a list as he can of two-bedroom apartments for rent in the area, using sources including newspaper ads, commercial rental listing services, and bulletin boards. Then, he will take a simple random sample of 150 of the apartments in the list, and visit each one to determine whether it is comparable to the university- owned apartments in size, number of bathrooms, state of repair, amenities (such as laundry facilities, bathtub/shower), etc. He will compute the sample mean rent of those apartments he finds to be comparable to the university-owned

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