1. The Canada Mortgage and Housing Corporation wants to examine how much homeowners plan to spend on renovations in the next year. A simple random sample of 125 shoppers produces a mean of $750 with a...

1. The Canada Mortgage and Housing Corporation wants to examine how much homeowners plan to spend on renovations in the next year. A simple random sample of 125 shoppers produces a mean of $750 with a standard deviation of $135. Based on the survey result, use alpha=.05 to provide a population mean estimate. Demonstrate how increasing alpha to .1 or decreasing alpha to .01 changes the estimate while holding the sample size constant. Explain the difference in the outcomes. 2. Housing researchers want to determine the rent paid for basement apartments in a low-income neighbourhood. A random sample of 15 apartment dwellers produces a mean rent paid of $855 per month, with a standard deviation of $95.50 Use a 90% confidence level to estimate the rents paid for basement apartments in this neighbourhood. How does this sample size influence the interpretation of the outcome? 3. Efforts to explain commuting habits leads the planning department to complete a survey of 156 people working in the downtown area. The results produce a mean one-way commute distance of 19.3 kilometers, with a standard deviation of 11.5 kilometers. Using a confidence coefficient of .95, estimate the mean for one-way commute distance. Demonstrate how increasing the sample size to 200 or decreasing the sample size to 50 would change this result while holding the confidence coefficient constant. Explain the change in results. 4. Neighbours are very upset over the opening of a new Burger Deluxe fast food joint because it has a noisy drive-through that generates undesirable traffic. The service time for 76 randomly selected customers had a mean of 127.8 seconds and a standard deviation of 48.3 seconds. Construct a 97 % confidence interval estimate for the population mean. 5. Social activists want to know the mean number of days young adults spend in city shelters. A previous random study of 57 homeless youth produced a standard deviation of 4.8 days. How large a sample is required to construct a 90% confidence interval for the mean days spent by youth in shelters if the estimate is within 0.7 days of the actual mean?