Question
The senior class of a particular university has 25,000 students. A sample of 1000 students is chosen at random to complete a survey on housing
The senior class of a particular university has 25,000 students. A sample of 1000 students is chosen at random to complete a survey on housing costs. Among these students, the average yearly housing cost is $15,000, with a standard deviation of $3,500. (a) To complete (b) and (c) you will need a box model to represent the housing costs of all 25,000 students. What are the AVG and SD of the tickets in this box, and are these values known or estimated? AVG = $_________ SD = $_________ The AVG and SD are known OR estimated (circle one) (b) The average yearly housing cost of all 25,000 senior students is estimated as $_________, and this estimate is likely to be off by about $_________ or so.
c) A 90%-confidence interval for the average yearly housing cost of all 25,000 senior students goes from $_________ to $_________.
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