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How many renters must be included in the survey

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Reference no: EM132857174

The housing department in the city of monitors the rent for rent-controlled apartments in the city. The mayor wants an estimate of the average rent. The housing the department must determine the number of apartments to include in the survey to be able to estimate the average rent within$100 using a 95% confidence interval. From past surveys, the monthly charge for rent-controlled apartments ranged from $1000 to $3500. How many renters must be included in the survey to meet the requirements? Repeat the work for 99%, 90% and 85%.

Reference no: EM132857174

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