David wants to rent an unfurnished apartment for next semester. He took a random sample of 9 apartments advertised in the local Halifax paper, and recorded the rental rates. The rents (in $ per month) were:

Rental Rates 500 650 600 505 450 550 515 495 640

A. Construct the 95% confidence interval

B. You wish to test the null hypothesis that the true mean monthly rent for an unfurnished apartment is $500. What is the value of the test statistic?

C. A student at the University of Calgary carried out a similar study, but using a sample of 16 apartments. The value of the test statistic for that study was 2.71. What would be the p-value to test against the alternative that the mean rent is not equal to $500.