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

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?
A student earned a 79 on a precalculus exam, and she earned a 92 on a statistics exam. The precalculus exam had a mean score of 72.3 with a standard deviation of 8.4. On the other hand, the statistics exam had a mean score of 87.4 with a standard deviation of 11.4. Determine which exam the student earned a better score on with respect to her peers.
Carlos and Devon both accepted new jobs at different companies. Carlos's starting salary is $32,000 and Devon's starting salary is $33,000. They are curious to know who has a better starting salary when compared to the salary distributions of their new employers. A website that collects salary information from a sample of employees for a number of major employers reports that Carlos's company offers a mean salary of $54,000 with a standard deviation of $6,000. Devon's company offers a mean salary of $44,000 with a standard deviation of $4,000. Find the z-scores corresponding to each of their starting salaries. Round to two decimal places, if necessary
Statewide, the population as a whole watches 6.2 hours of TV per day. A random sample of 1017 senior citizens in the state reports watching an average of 5.9 hours per day, with a standard deviation of 0.7. is the difference significant
The major that you choose in college can have an impact on your future in terms of income and quality of life. Some majors, such as petroleum engineering and pharmaceutical sciences, make more on average than other majors. A random sample of 22 petroleum engineering and pharmaceutical sciences graduates have a mean annual salary of $54,118 with a standard deviation of $1479. Given that the distribution is approximately normal, test the hypothesis that the mean annual salary for petroleum engineering and pharmaceutical sciences graduates is $53,000. What is the critical value(s) for this test? The major that you choose in college can have an impact on your future in terms of income and quality of life. Some majors, such as petroleum engineering and pharmaceutical sciences, make more on average than other majors. A random sample of 22 petroleum engineering and pharmaceutical sciences graduates have a mean annual salary of $54,118 with a standard deviation of $1479. Given that the…
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.
According to the Vivino website, suppose the mean price for a bottle of red wine that scores 4.0 or higher on the Vivino Rating System is $32.48. A New England-based lifestyle magazine wants to determine if red wines of the same quality are less expensive in Providence, and it has collected prices for 64 randomly selected red wines of similar quality from wine stores throughout Providence. The mean and standard deviation for this sample are $30.15 and $12, respectively. (a) Develop appropriate hypotheses for a test to determine whether the sample data support the conclusion that the mean price in Providence for a bottle of red wine that scores 4.0 or higher on the Vivino Rating System is less than the population mean of $32.48. (Enter != for # as needed.) Ho: H: (b) Using the sample from the 64 bottles, what is the test statistic? (Round your answer to three decimal places.) Using the sample from the 64 bottles, what is the p-value? (Round your answer to four decimal places.) p-value =…
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…
A public health survey was carried out to estimate the total number of alcohol bottles consumed by the population of adults in a week at Kiwanja neighbourhood. The mean was found to be 16 bottles with a standard deviation of 4 bottles. The health authorities’ guidelines advise that it is healthy for people to consume fewer than 12 bottles a week. What proportion of the population did so? It is desirable to consume between 12 and 18 bottles of alcohol a week. What proportion of people was within this range? It is known that it is dangerous to consume more than 25 bottles a week. How many adults out of a sample of 200 over consumed alcohol?
According to the Bureau of Labor Statistics, the mean salary for registered nurses in Kentucky was $55,130. The distribution of salaries is assumed to be normally distributed with a standard deviation of $5,778. Someone would like to determine if registered nurses in Ohio have a greater average pay. To investigate this claim, a sample of 220 registered nurses is selected from the Ohio Board of Nursing, and each is asked their annual salary. The mean salary for this sample of 220 nurses is found to be $55,504.488. Completely describe the sampling distribution of the sample mean salary when samples of size 220 are selected. mean: μ x-bar = ____ standard deviation: σ x-bar = ____ shape: the distribution of is ____________(not normally distributed/normally distributed) because ___________ (the sample size is large/the sample size is not large/the population of salaries is normally distributed/the population of salaries is not normally distributed)
A large accounting firm is trying to determine what fee to charge for next year's returns in order to cover potential additional expenses if the client is later subject to an audit. In previous years, the actual mean cost to the firm for attending a client audit session was $650. To determine if this cost has changed, the firm randomly sampled 32 client audit fees and found a mean audit cost of $685 with a standard deviation of $85. Based upon this information, can the accounting firm conclude that the mean audit cost has changed? Use a .05 level of significance for the test.

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