Monthly rent was determined for each apartment in a random sample of 100 apartments. The sample mean was 5820 and the sample standard deviation was $25. An approximate 95% 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% confidence interval? A. In this population, about 95% of all rental prices are between $815 and $825. B. In this sample, about 95% of the 100 rental prices are between $815 and $825. C. In repeated sampling, the method produces intervals that include the population mean approximately 95 percent of the time D. In repeated sampling, the method produces intervals that include the sample mean approximately 95 percent of the time. E. There is a probability of 0.95 that the true mean is between $815 and $825

Question

Asa Rivas

Business

6 July, 09:01

Monthly rent was determined for each apartment in a random sample of 100 apartments. The sample mean was 5820 and the sample standard deviation was $25. An approximate 95% 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% confidence interval? A. In this population, about 95% of all rental prices are between $815 and $825. B. In this sample, about 95% of the 100 rental prices are between $815 and $825. C. In repeated sampling, the method produces intervals that include the population mean approximately 95 percent of the time D. In repeated sampling, the method produces intervals that include the sample mean approximately 95 percent of the time. E. There is a probability of 0.95 that the true mean is between $815 and $825

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Answers (1)

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Timothy Kirk · Answer 1

C.

Explanation:

The 95% confidence interval shows that if same size samples are taken repeatedly from the population under study and find the confidence interval for each sample then about 95% confidence intervals will contain true mean.

option C is right because they are giving C. I for population mean