Question

A random sample of 75 students at the University of Minnesota spend an average of $614 per month in rent with a standard deviation of $219. The distribution is moderately skewed to the high end. Which of the following statements are true? i. 95% of students at the university spend $564 to $664 on rent. ii. We are 95% confident that the average rent for students at the university is between $564 and $664. iii. Because we cannot examine other characteristics of the students in the random sample, it is not advisable to construct a confidence interval. Oi only Oii only O iii only Oi and ii Oi, ii, and iii Points possible: 1 License

Answer 1

Sample mean: Sample size: given given given Sample standard deviation: x = n= S= n-1= a= a/2 = 614 75 219 74 0.05 1.993 Degrees of freedom: Level of significance: : Critical value: given 95% confidence level and From t table = 0.025 Standard error: = 25.288 Margin of error: (ain) ( )= 50.38732 Lower limit: x-ta/2 = 563.6127 Upper limit: Urpe lunt: Etter in) = masun x +1/2 = 664.3873 The confidence interval is ( 564 664 ) ii only