AnnArbor_Rental. Real Estate investment in college towns continues to promise good returns (The Wall Street Journal, September 24, 2010). Marcela Treisman works for an investment firm in Michigan. Her assignment is to analyze the rental market in Ann Arbor, which is home to the University of Michigan. She gathers data on monthly rents for 2011 along with the square footage of 40 homes. A portion of the data is shown in the accompanying table.Construct 90% and 95% confidence intervals for the mean rent for all rental homes in Ann Arbor, Michigan.Construct a 90% and 95% confidence intervals for the mean square footage for all rental homes in Ann Arbor, Michigan. AutoSaveA Chapter 8 Ann Arbor Data vOFFHomeInsertDrawPage LayoutFormulasDataReviewViewExcelNow! for MacsTell meShareO CommentsL8 ConnectionsClearShow DetailPropertiesReapplyFrom New DatabaseRefreshAllSortFilterFlashFillFromText toColumnsWhat-IfGroupUngroup SubtotalStocks Geogra...RemoveDataConsolidateHide DetailHTMLТextQueryEdit LinksAdvancedDuplicates ValidationAnalysisВ4fx=STDEV.S(B2:B41)AВCDEFHLMQRSUVWY1 Monthly RentSquare footage2645500367564847607008009036.82081778509208559009.85988610 900100011 90592012 90587613 92992014 96097515 975110016 99094017 995100018 1029129919 1039116420 1049118021 1050116222 1084116323 1100102024 1100115025 1185122526 1245136827 1275140028 1275135029 1400118530 1450120031 1500141232 1518170033 1600144034 1635146035 1635146036 1650117037 17501944Monthly RentSquare footage38 19502265Mean1222.9251286.02539 19751700Std. Dev424.8044645.813740 2200431941 2400270042431222.9251286.02544424.8044128645.8136783Sheet1+Ready100%NA

Answered: AnnArbor_Rental. Real Estate investment…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

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AnnArbor_Rental. Real Estate investment in college towns continues to promise good returns (The Wall Street Journal, September 24, 2010). Marcela Treisman works for an investment firm in Michigan. Her assignment is to analyze the rental market in Ann Arbor, which is home to the University of Michigan. She gathers data on monthly rents for 2011 along with the square footage of 40 homes. A portion of the data is shown in the accompanying table.

Construct 90% and 95% confidence intervals for the mean rent for all rental homes in Ann Arbor, Michigan.
Construct a 90% and 95% confidence intervals for the mean square footage for all rental homes in Ann Arbor, Michigan.

AutoSave
A Chapter 8 Ann Arbor Data v
OFF
Home
Insert
Draw
Page Layout
Formulas
Data
Review
View
ExcelNow! for Macs
Tell me
Share
O Comments
L8 Connections
Clear
Show Detail
Properties
Reapply
From New Database
Refresh
All
Sort
Filter
Flash
Fill
From
Text to
Columns
What-If
Group
Ungroup Subtotal
Stocks Geogra...
Remove
Data
Consolidate
Hide Detail
HTML
Тext
Query
Edit Links
Advanced
Duplicates Validation
Analysis
В4
fx
=STDEV.S(B2:B41)
A
В
C
D
E
F
H
L
M
Q
R
S
U
V
W
Y
1 Monthly Rent
Square footage
2
645
500
3
675
648
4
760
700
800
903
6.
820
817
7
850
920
855
900
9.
859
886
10 900
1000
11 905
920
12 905
876
13 929
920
14 960
975
15 975
1100
16 990
940
17 995
1000
18 1029
1299
19 1039
1164
20 1049
1180
21 1050
1162
22 1084
1163
23 1100
1020
24 1100
1150
25 1185
1225
26 1245
1368
27 1275
1400
28 1275
1350
29 1400
1185
30 1450
1200
31 1500
1412
32 1518
1700
33 1600
1440
34 1635
1460
35 1635
1460
36 1650
1170
37 1750
1944
Monthly Rent
Square footage
38 1950
2265
Mean
1222.925
1286.025
39 1975
1700
Std. Dev
424.8044
645.8137
40 2200
4319
41 2400
2700
42
43
1222.925
1286.025
44
424.8044128
645.8136783
Sheet1
+
Ready
100%
NA

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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