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.
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.
2 answers
Thank you!
1 answer