An apartment complex developer is considering building apart…

Questions

An аpаrtment cоmplex develоper is cоnsidering building аpartments in College Town, but first wants to do a market study. A sample was selected of monthly rent values for 70 studio apartments in College Town. The sample mean is $490.80 and an estimate of the standard deviation value of s = $55. a. Develop a 95% confidence interval for the mean monthly rent for all studio apartments in this city. Confidence Interval: [lowerlimit] to [upperlimit] b. Suppose the apartment developer wants a 99% confidence interval estimate of the population mean with a margin of error of E = $10.  What sample size is needed? Sample size: [size]