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Confidence interval estimate of the population mean monthly

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Reference no: EM132126427

Costs are rising for all kinds of medical care. The mean monthly rent at assisted living facilities was reported to have increased 27% over the last five years to $3886 (the wall street journal, October 27, 2012. aussume this cost estimate is based on a sample of 128 facilies and, from past studies, it canbe assumed that the population standard deviation is 950$.

a. Develop a 90% confidence interval estimate of the population mean monthly rent.

b. Develop a 95% confidence interval estimate of the population mean monthly rent.

Reference no: EM132126427

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