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1. Assume you have taken a survey of 100 residents in Toronto, asking how much they spend per month on rent. You find that the
1. Assume you have taken a survey of 100 residents in Toronto, asking how much they spend per month on rent. You find that the sample mean of rent expenditures for this papulation is 1,600 dollars, with a variance of 10,000 dollarsz. (total 40 points) a. Construct a 95% confidence interval around the sample mean. (10 points) b. Construct a 97% confidence interval around the sample mean. (10 points) c. Construct a 79.6% confidence interval around the sample mean. (10 points) d. Assume that the survey only asked 15 residents instead of 100. The sample mean and variance are the same. Construct a 95% confidence interval around the sample mean. (10 points)
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