(Answered) As part of their business promotional package the milwaukee

Statistics

As part of their business promotional package, the Milwaukee Chamber of Commerce would like an estimate of the mean cost per month of a one-bedroom apartment. A random sample of 40 apartments currently available for lease showed the mean cost per month was $323. The standard deviation of the sample was $25.

a. Develop a 98 percent confidence interval for the population mean.

b. Would it be reasonable to conclude that the population mean is $350 per month?

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