Confidence interval for the mean monthly rent


You want to rent an unfurnished one-bedroom apartment for next semester. You take a random sample of 10 apartments advertised in the local newspaper and record the rental rates. Assume the rental rates are normally distributed. Here are the rents (in dollars per month). 650, 595, 625, 395, 655, 380, 540, 325, 625, 365

Find a 95% confidence interval for the mean monthly rent for unfurnished one-bedroom apartments available for rent in this community.

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Basic Statistics: Confidence interval for the mean monthly rent
Reference No:- TGS0112982

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