a. What is the probability that the sample mean rent is between $2543 and $2643? b. Would it be unusual if the sample mean were greater than $2543? C. Do you think it would be unusual for an individual apartment to have a rent greater than $2543? Explain. Assume the population is approximately normal.
a. What is the probability that the sample mean rent is between $2543 and $2643? b. Would it be unusual if the sample mean were greater than $2543? C. Do you think it would be unusual for an individual apartment to have a rent greater than $2543? Explain. Assume the population is approximately normal.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Transcribed Image Text:4. The mean monthly rent for a one-bedroom apartment without a doorman in Manhattan is
$2674. Assume the standard deviation is $508. A real estate firm samples 84 apartments.
a. What is the probability that the sample mean rent is between $2543 and $2643?
Would it be unusual if the sample mean were greater than $2543?
b.
C.
Do you think it would be unusual for an individual apartment to have a rent greater
than $2543? Explain. Assume the population is approximately normal.
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