The mean of a set of quantitative data, is equal to the sum of the measurements divided by the number of measurements contained in the data set. Keeping this definition in mind, your answer is correct. On the five rental suite, on average, the rent is $16,000.00 per annum.

Of course, if you wanted to calculate the mean rent for a month for this same data set, you would divide $16,000.00 by 12 months equaling $1333.33 ...

Solution Summary

This solution calculates the mean for one problem that provides data from a study on rental housing on income and rent as a percentage of income for a sample of 5 rental units. It provides a step-by-step process.

... To recap: sum of (probability-mean probability) squared / number of probabilities Good luck! This will show you how to calculate means and standard deviations. ...

... Step 5: Calculate the confidence interval Confidence interval from ... This post shows how to calculate the confidence interval for a single sample mean. ...

... and 360 First we need to calculate the z ... percentage of data point can be calculated as follows ... This problem calculates z-scores and confidence intervals (using ...

... Step 4: Calculate the observed value of test statistics Observed Mean 48.18 Observed Standard Deviation s 2.8859 Number of Observations 10 Calculate the ...

... hypothesis There is no significant difference in the mean of INTRINSIC and EXTRINSIC 2. Significance level 0.05 3. The test Statistic The calculated value of T ...

Calculating Order Points. ... 2. If the DDLT for the printer is actually normally distributed with a mean of 65 and a standard deviation of 10, and a 90 % service ...

... the population of all possible sample means 4. Calculate an interval ... b. Suppose that the mean of the five sampled ... Using the interval that was calculated in a(4 ...