The mean monthly water bill for 44 residents of the local
apartment complex is $104. What...
The mean monthly water bill for 44 residents of the local
apartment complex is $104. What is the best point estimate for the
mean monthly water bill for all residents of the local apartment
complex?
in a certain city, the monthly water bill amount is normally
distributed with mean 25 and standard deviation 15. A sample of 36
bills was selected. What is the probability that the average water
bill amount for the sample was between 26.7 and 30? round your
answer to 4 decimal places. Do not write as percentage.
The average monthly electric bill of a random sample of 256
residents of a city is $90 with a standard deviation of $24.
Construct a 95% confidence interval for the mean monthly
electric bills of all residents. (Round to two decimal places)
[Answer, Answer]
Construct a 99% confidence interval for the mean monthly
electric bills of all residents. (Round to two decimal places)
[Answer, Answer]
Monthly rent at an apartment complex is $500. Operating costs
follow a normal distribution with a mean of $15000 and a standard
deviation of $300 (minimum of 0). The number of apartments rented
follow a triangular distribution with a minimum of 30, most likely
34, and
a maximum of 40. Run the simulation and report the descriptive
statistics for the profit of the complex (mean, etc.). Also, report
percentile information on the level of profit. Finally, you are
concerned that...
What is the price of an apartment if the monthly rent is $3,500,
the monthly discount rate is 0.6%, and the monthly growth rate is
0.3%. Assume that for a special offer the first three month of rent
are free.
A local developer is considering building a 35-unit apartment
complex in Texas. Because of the long-term growth potential of the
area, it is felt that the company could average 90% of full
occupancy for the complex each year. The land investment cost is
$65,000 and the building investment cost is $285,000. The upkeep
expense per unit per month is $30. Property taxes and insurance per
year is 13% of total initial investment. The company MARR is 12%.
The estimated rental...
The water works commission needs to know the mean household
usage of water by the residents of a small town in gallons per day.
They would like the estimate to have a maximum error of 0.1
gallons. A previous study found that for an average family the
variance is 6.76 gallons and the mean is 16.1 gallons per day. If
they are using a 98% level of confidence, how large of a sample is
required to estimate the mean usage...
The water works commission needs to know the mean household
usage of water by the residents of a small town in gallons per day.
Assume that the population standard deviation is 2.3 gallons. The
mean water usage per family was found to be 20.5 gallons per day
for a sample of 1559 families. Construct the 90% confidence
interval for the mean usage of water. Round your answers to one
decimal place.
lower endpoint = ?
upper endpoint =?
The water works commission needs to know the mean household
usage of water by the residents of a small town in gallons per day.
They would like the estimate to have a maximum error of 0.15 0.15
gallons. A previous study found that for an average family the
variance is 3.61 3.61 gallons and the mean is 17.3 17.3 gallons per
day. If they are using a 90% 90% level of confidence, how large of
a sample is required to...
The water works commission needs to know the mean household
usage of water by the residents of a small town in gallons per day.
They would like the estimate to have a maximum error of 0.15
gallons. A previous study found that for an average family the
standard deviation is 2.5 gallons and the mean is 15.2 gallons per
day. If they are using a 80% level of confidence, how large of a
sample is required to estimate the mean...
The water works commission needs to know the mean household
usage of water by the residents of a small town in gallons per day.
Assume that the population standard deviation is 2.2 gallons. The
mean water usage per family was found to be 15.8 gallons per day
for a sample of 669 families. Construct the 90% confidence interval
for the mean usage of water. Round your answers to one decimal
place.