Costs are rising for all kinds of medical care. The mean monthly rent at assisted living facilities was reported to have increased 27% over the last five years to $3886 (the wall street journal, October 27, 2012. aussume this cost estimate is based on a sample of 128 facilies and, from past studies, it canbe assumed that the population standard deviation is 950$.
a. Develop a 90% confidence interval estimate of the population mean monthly rent.
b. Develop a 95% confidence interval estimate of the population mean monthly rent.