Question

Researchers conducted a study to determine the monthly rental cost of rent-controlled apartments in the five boroughs of New York City in 2012. The study randomly sampled 203 apartment records from Brooklyn, obtained from a large collection of income- and expense-filing statements. The 95% confidence interval of rent-controlled apartment costs in Brooklyn was $1,025.00 ± ± $9.24. The cost of all rent-controlled apartments in Brooklyn has a standard deviation of $67.20. State the conclusion of the z z -confidence interval for the mean.

Answer 1

Answer:

Researchers are 95% certain that the interval ($2005.76, $2024.24) contains the mean monthly rental cost of all rent-controlled apartments in Brooklyn.

Step-by-step explanation:

Last part of the question and choices are missing. Full question is like this:

Researchers conducted a study to determine the monthly rental cost of rent-controlled apartments in the five boroughs of New York City in 2012. The study randomly sampled 203 apartment records from Brooklyn, obtained from a large collection of income- and expense-filing statements. The 95% confidence interval of rent-controlled apartment costs in Brooklyn was $1,025.00 ± ± $9.24. The cost of all rent-controlled apartments in Brooklyn has a standard deviation of $67.20. State the conclusion of the z z -confidence interval for the mean.

Researchers are ________certain that the interval ($2005.76, $2024.24) contains the mean monthly rental cost of _____.

   all rent-controlled apartments in New York City.

   all rent-controlled apartments in Brooklyn.

   the 98 apartments in the sample.

   all apartments in Brooklyn.

Confidence Intervals give a range of values that the statistic (mean cost of  all rent-controlled apartments in Brooklyn) can assume in a confidence level (95%). Confidence levels give the levels we can be sure (95%) that the statistic falls within the interval.

Since the sample is about the rent-controlled apartments in Brooklyn, the confidence interval gives an estimate of the rent-controlled apartments in Brooklyn, not in New York.