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Apartment rents. 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 record the rental rates. Here are the rents (in dollars per month)
650, 600, 505, 450, 550, 515, 495, 650, 395, 620
Find a 95% confidence interval for the mean monthly rent for unfurnished one-bedroom apartments available for rent in this community.
Compare a three-month moving average forecast with an exponential smoothing fore-cast for a = 0.2. Which provides the better forecasts using MSE as the measure of model accuracy?
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