Stats

You want to rent an unfurnished one-bedroom apartment in Boston next year. The mean monthly rent for a random sample of 14 apartments advertised in the local newspaper is $1200. Assume that the standard deviation is $230. Find a 95% confidence interval for the mean monthly rent for unfurnished one-bedroom apartments available for rent in this community. (Round your answers to two decimal places.)

I did the work and got ($ 1079.48, $ 1320.50 ) but it says that this answer is wrong.

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  1. CI95 = mean ± 1.96 (sd/√n)

    With your data:

    CI95 = 1200 ± 1.96 (230/√14)

    Calculating...

    1200 + 120.48 = 1320.48
    1200 - 120.48 = 1079.52

    I found approximately the same answer you did.

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  2. Thank you!

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