Last Name: First Name: Set: or Standard Error of the Mean 011:? Margin of Error n 0 Condence Interval Estimate for the Mean 7' i Z ' h You want to rent a one-bedroom apartment near BCIT for next term. The mean monthly rent for a random sample of 36 apartments advertised for rent on Craigslist is $1,235. Assume that the population standard deviation is $150. (a) Give the point estimate of the true mean monthly rent for one-bedroom apartments available for rent near BCIT. [I mark] ANSWER: (b) At the 95% condence level, what is the margin often-or on your estimate of the true mean monthly rent for one-bedroom apartments available for rent near BCIT. [3 marks] ANSWER: (c) Construct a 95% condence interval for the true mean monthly rent for one-bedroom apartments. Include a statement. [3 marks] ANSWER: (d) A friend claims the average monthly rent for a one-bedroom apartment available for rent near BC\" is at least $1,300. Based on your condence interval do you agree? Explain. [2]