What is the standard error of the mean

Reference no: EM131423495

More on apartment rents. Recall given Exercise. Construct a 95% confidence interval for the mean monthly rent of all advertised one-bedroom apartments.

Exercise
Apartment rents

You randomly choose 16 unfurnished one-bedroom apartments from a large number of advertisements in your local newspaper. You calculate that their mean monthly rent is $658 and their standard deviation is $111.

(a) What is the standard error of the mean?

(b) What are the degrees of freedom for a one-sample t statistic?

Reference no: EM131423495

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