The monthly rent for a two-bedroom apartment in a particular city is reported to be $1550....

The monthly rent for a two-bedroom apartment in a particular city is reported to be $1550. Randomly chosen 50 apartments are taken as a sample, which has a mean of $1608 and a standard deviation of $302. (a) Conduct a hypothesis test at a 0.05 level of significance if the reported rent of $1550 is plausible. Make sure to state your null and alternative hypotheses1 . (b) Construct a 95% confidence interval for the population mean of the sampled data. (c) Suppose for a similar sample, a 99% confidence interval for the population mean is found to be (1510, 1690). Determine the sample average.

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orchestra answered 1 year ago

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