Apartment rates. You randomly choose 16 unfurnished

Chapter , Problem 7.1

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Apartment rates. 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 $600 and their standard deviation is $55. (a) What is the standard error of the mean? (b) What are the degrees of freedom for a one-sample t statistic?

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