On their website, a property management company states that the mean monthly rent for apartments on the east side of town is $750. A researcher for aconsumer advocacy group believes that, due to the construction of newer apartment complexes in neighboring towns, the mean monthly rent on the east side,H, is now lower. A random sample of 11 monthly rents for apartments on the east side has a mean of $737, with a standard deviation of $22.Assume that current monthly rents for apartments on the east side are approximately normally distributed. Based on the sample, is there enough evidence toconclude, at the 0.10 level of significance, that the population mean monthly rent is now less than what is stated the website?Perform a one-tailed test. Then complete the parts below.Carry your intermediate computations to three or more decimal places. (If necessary, consult a list of formulas.)-(a) State the null hypothesis Ho and the alternative hypothesis H₁.H₂ : OH₁ :0(b) Determine the type of test statistic to use.(Choose one) ▼(c) Find the value of the test statistic. (Round to three or more decimal places.)(d) Find the p-value. (Round to three or more decimal places.)(e) Can we conclude that the mean monthly rent for apartments on the east sideis less than what is stated on the website?O Yes O NoFX00*0OxS200Р0=0 OSO 020P5Olo0<0 O>0

(a) Hypotheses: H0:μ=750H1:μ<750

Answered: On their website, a property management…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

See similar textbooks

Similar questions

On their website, a property management company states that the mean monthly rent for apartments on the east side of town is $675. A researcher for a consumer advocacy group believes that, due to the construction of newer apartment complexes in neighboring towns, the mean monthly rent on the east side, μ, is now lower. A random sample of 10 monthly rents for apartments on the east side has a mean of $668, with a standard deviation of $24. Assume that current monthly rents for apartments on the east side are approximately normally distributed. Based on the sample, is there enough evidence to conclude, at the 0.10 level of significance, that the population mean monthly rent is now less than what is stated on the website? Perform a one-tailed test. Then complete the parts below. Carry your intermediate computations to three or more decimal places. A. Find the value of the test statistic and round to 3 or more decimal places. (I have posted a picture of an example problem and the equation…
On their website, a property management company states that the mean monthly rent for apartments on the east side of town is $650. A researcher for a consumer advocacy group believes that, due to the construction of newer apartment complexes in neighboring towns, the mean monthly rent on the east side, μ, is now lower. A random sample of 14 monthly rents for apartments on the east side has a mean of $647, with a standard deviation of $24. Assume that current monthly rents for apartments on the east side are approximately normally distributed. Based on the sample, is there enough evidence to conclude, at the 0.10 level of significance, that the population mean monthly rent is now less than what is stated on the website? Perform a one-tailed test. Then complete the parts below. Carry your intermediate computations to three or more decimal places a. State the null hypothesis H0 and the alternative hypothesis H1. b. Find the value of the test statistic. Round to three or more decimal…
Is Washington, D.C. different from the rest of the United States? When a simple random sample of 400 families is taken in Washington, the mean income is $46,211 with a standard deviation of $12, 214. Another sample of 900 families throughout the United States finds the mean income to be $44,344 with a standard deviation of $10,103. Is the mean income in Washington, D.C. higher than the mean income in the rest of the country? Use a 5% significance level.
For a study conducted by the research department of a pharmaceutical company, 235 randomly selected individuals were asked to report the amount of money they spend annually on prescription allergy relief medication. The sample mean was found to be $17.80 with a standard deviation of $4.30 . A random sample of 250 individuals was selected independently of the first sample. These individuals reported their annual spending on non-prescription allergy relief medication. The mean of the second sample was found to be $18.20 with a standard deviation of $4.00 . As the sample sizes were quite large, it was assumed that the respective population standard deviations of the spending for prescription and non-prescription allergy relief medication could be estimated as the respective sample standard deviation values given above. Construct a 90% confidence interval for the difference −μ1μ2 between the mean spending on prescription allergy relief medication ( μ1 ) and the mean…
A company has rolled out a new process for sales people to use. They were able to go back into the company records and pull all sales data from before the roll out. Each sales person when they closed a sale had an average contract of $108 with a standard deviation of $12. During the first month after the roll out, a sample of sales showed the average contract was $116. Which statistical test could be used to see if this was a significant increase in contract size?
The average McDonald's restaurant generates $3.6 million in sales each year with a standard deviation of 0.9. Trent wants to know if the average sales generated by McDonald's restaurants in Kentucky is different than the worldwide average. He surveys 27 restaurants in Kentucky and finds the following data (in millions of dollars): 4.1, 2.8, 4.4, 4.5, 5.3, 5, 3.7, 2.9, 3.8, 4.8, 3.6, 2.3, 3.7, 2.9, 2.9, 4, 1.1, 5.2, 2.9, 5, 4, 4, 5.9, 3.2, 2.2, 4.3, 3.8 Perform a hypothesis test using a 3% level of significance. Step 1: State the null and alternative hypotheses. Ho: [? v] ? v На: ? ? v (So we will be performing a Select an answer test.) Step 2: Assuming the null hypothesis is true, determine the features of the distribution of point estimates using the Central Limit Theorem. By the Central Limit Theorem, we know that the point estimates are Select an answer v with distribution mean and distribution standard deviation Step 3: Find the p-value of the point estimate. P( ? v ? v = P( ? ♥ ?…
The National Coalition on Healthcare suggests that the mean annual premium that a health insurer charges an employer for a health plan covering a family of four averaged $13,000 in 2009. A sample of 30 families of four yields a mean annual premium paid by their employer to be $13,500 with a sample standard deviation of $300. We are interested in whether the mean annual premium that a health insurer charges an employer for a health plan covering a family of four is different from $13,000 using a significance level of 0.10. Select one: a. tdata = 9.129, do not reject Ho. b. tdata = 9.129, reject Ho. c. tdata = -9.129, do not reject Ho. O d. tdata = 4.156, reject Ho.
Solar energy is considered by many to be the energy of the future. A recent survey was taken to compare the cost of solar energy to the cost of gas or electric energy. Results of the survey revealed that the distribution of the amount of the monthly utility bill of a three-bedroom house using gas or electric energy had a mean of $117 and a standard deviation of $13. If the distribution can be considered normal: Approximately what percentage of homes will have a monthly utility bill less than $78? Note: Do NOT include the "%" sign Do NOT round any decimals, if applicable
Is it worth pursuing a doctoral degree in education if you already have an undergraduate degree? One way to help make this decision is to look at the mean incomes of these two groups. Suppose that 15 people with bachelor’s degrees in education were surveyed. Their mean annual salary was $⁢31,500 with a standard deviation of $⁢7900. Seventeen people with doctoral degrees in education were found to have a mean annual salary of $⁢47,500 with a standard deviation of $⁢6900. Assume that the population variances are not the same. Construct a 99% confidence interval to estimate the true difference between the mean salaries for people with doctoral degrees and undergraduate degrees in education. Let Population 1 be the salaries for people with doctoral degrees and Population 2 be the salaries for people with undergraduate degrees. Round the endpoints of the interval to the nearest whole number, if necessary.
A marketing consultant is hired by a major restaurant chain wishing to investigate the preferences and spending patterns of lunch customers. The CEO of the chain hypothesized that the average customer spends at least $13.50 on lunch. A survey of 25 customers sampled at one of the restaurants found the average lunch bill per customer to be ?¯=$14.50 . Based on previous surveys, the restaurant informs the marketing manager that the standard deviation is ?=$3.50 . To address the CEO’s conjecture, the marketing manager carried out a hypothesis test of ?0:?=13.50 vs. ??:?>13.50 and obtained a ?‑value = 0.77. The marketing chooses a significance level of ?=0.10. If he uses this significance level throughout his work, how often will he reject a true null hypothesis? Group of answer choices a.He will reject 10% of all true null hypotheses. b. He will reject 1% of all true null hypotheses. c. He will reject 5% of all true null hypotheses. d. He will not reject 10% of all true null…
An article by Erin El Issa titled "2015 American household credit card debt study" (www.nerdwallet.com) indicated that for households that had credit card debt, the average debt in 2015 was $15,355. Assume that credit card debt per household has a normal distribution with a standard deviation of $3,000. (A) Determine the percentage of households that have a credit card debt of more than $15,000. Answer: The percentage is % (use 2 decimal places) (B) One household has a credit card debt that is at the 95th percentile. Determine its credit card debt. Answer: The credit card debit is $ Espacio en Blanco 1: Espacio en Blanco 2: Ku
A report about how American college students manage their finances includes data from a survey of college students. Each person in a representative sample of 793 college students was asked if they had one or more credit cards and if so, whether they paid their balance in full each month. There were 500 who paid in full each month. For this sample of 500 students, the sample mean credit card balance was reported to be $825. The sample standard deviation of the credit card balances for these 500 students was not reported, but for purposes of this exercise, suppose that it was $205. Is there convincing evidence that college students who pay their credit card balance in full each month have a mean balance that is lower than $907, the value reported for all college students with credit cards? Carry out a hypothesis test using a significance level of 0.01. State the appropriate null and alternative hypotheses. H0: ? = 907 Ha: ? < 907 H0: ? = 907 Ha: ? > 907 H0: ? < 907…

SEE MORE QUESTIONS

Recommended textbooks for you

A First Course in Probability (10th Edition)

Probability

ISBN:

9780134753119

Author:

Sheldon Ross

Publisher:

PEARSON

A First Course in Probability

Probability

ISBN:

9780321794772

Author:

Sheldon Ross

Publisher:

PEARSON

A First Course in Probability (10th Edition)

Probability

ISBN:

9780134753119

Author:

Sheldon Ross

Publisher:

PEARSON

A First Course in Probability

Probability

ISBN:

9780321794772

Author:

Sheldon Ross

Publisher:

PEARSON

SEE MORE TEXTBOOKS