You want to rent an unfurnished one-bedroom apartment for next semester. You take a random sample of 10 apartments advertised in the local newspaper and obtain the following monthly rental rates (in dollars):

500, 650, 600, 505, 450, 550, 515, 495, 650, 395

Question 1. Find a 95% confidence interval for the mean monthly rentfor unfurnished one-bedroom apartments available for rent in the NC State area (do not include dollar signs in your answer):

lower bound--479.69**answer

upper bound--582.31**answer

Do these data give good reason to believe that the mean rentfor all advertised apartments is greater than $500 per month? Perform the appropriate test at significance level= .05 and answer the questions below.

Question 2a. What is the value of thetstatistic for this test?

Question 2b. What is the cutoff for the rejection region? Rejection Region:t

Question 2c. Use thist-tableto determine bounds on the P-value of this test:

lower bound on the P-value

upper bound on the P-value