Monthly rent was determined for each apartment in a random sample of 100 apartments. The sample mean was $820 and the sample standard deviation was $25. An approximate 95 percent confidence interval for the true mean monthly rent for the population of apartments from which this sample was selected is ($815, $825). Which of the following statements is a correct interpretation of the 95 percent confidence level? O In this sample, about 95% of the 100 rental prices are between $815 and $825. O In repeated sampling, the method produces intervals that include the population mean approximately 95% of the time. There is a probability of 0.95 that the true mean is between $815 and $825. O In repeated sampling, the method produces intervals that include the sample mean approximately 95% of the time. In this population, about 95% of all rental prices are between $815 and $825

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
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Chapter1: Starting With Matlab
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Monthly rent was determined for each apartment in a random sample of 100 apartments. The
sample mean was $820 and the sample standard deviation was $25. An approximate 95 percent
confidence interval for the true mean monthly rent for the population of apartments from which
this sample was selected is ($815, $825). Which of the following statements is a correct
interpretation of the 95 percent confidence level?
O In this sample, about 95% of the 100 rental prices are between $815 and $825.
O In repeated sampling, the method produces intervals that include the population mean approximately 95%
of the time.
There is a probability of 0.95 that the true mean is between $815 and $825.
O In repeated sampling, the method produces intervals that include the sample mean approximately 95% of
the time.
In this population, about 95% of all rental prices are between $815 and $825
Transcribed Image Text:Monthly rent was determined for each apartment in a random sample of 100 apartments. The sample mean was $820 and the sample standard deviation was $25. An approximate 95 percent confidence interval for the true mean monthly rent for the population of apartments from which this sample was selected is ($815, $825). Which of the following statements is a correct interpretation of the 95 percent confidence level? O In this sample, about 95% of the 100 rental prices are between $815 and $825. O In repeated sampling, the method produces intervals that include the population mean approximately 95% of the time. There is a probability of 0.95 that the true mean is between $815 and $825. O In repeated sampling, the method produces intervals that include the sample mean approximately 95% of the time. In this population, about 95% of all rental prices are between $815 and $825
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