A rental agent claims that the mean monthly rent, mu, for apartments on the east side of town is less than $725. A random sample of 13 monthly rents for apartments on the east side has a mean of $724, with a standard deviation of $15. If we assume that the monthly rents for apartments on the east side are normally distributed, is there enough evidence to conclude, at the 0.1level of significance, that mu is less than $725?

Question

--H0 (null hypothesis):
-H1 (alternative hypothesis):
-Type of test statistic: (Z, t, F, chi squared)
-The value of the test statistic (round to at least 3 decimal places):
-The p-value (round to at least 3 decimal places): ___
-Using the 0.1 level of significance, can we conclude that the mean monthly rent for apartments on the east side is less than $725? (yes, no)

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Problem (One tailed test)

A rental agent claims that the mean monthly rent, mu, for apartments on the east side of town is less than $725. A random sample of 13 monthly rents for apartments on the east side has a mean of $724, with a standard deviation of $15. If ...

Solution Summary

The solution provides a null hypothesis and one tailed test.

... The null hypothesis is H0 and the alternative is H1. ... help explain the null and alternative hypotheses value of ... An example of a null and alternative hypothesis...

... 19 Marks: 1 For a lower-tailed test, when the sample mean is 50, the null hypothesis mean is ... s = 7 and n = 25; the student t statistic is: Choose one answer ...

... Lower-Tail Test Lower Critical Value -1.943180281 p -Value 0.008679319 Reject the null hypothesis. Calculations Area For one-tailed tests: TDIST value ...

... In a basic, one-sample hypothesis test both types of hypotheses are mathematical statements about the values ... The null assumes that nothing has changed. ...

... We would only reject the null hypothesis if a t-test... Item 2: One-tail (lower): Explain the problem you would ... make up numbers) and state the hypotheses in both ...

... Solution-D: Part-A: F-Test Two-Sample for ... P(F<=f) one-tail 0.012457126 F Critical one-tail 0.560586574. ... F < F-Critical, we fail to reject the null hypothesis. ...

...Test Calculations Area Lower Critical Value -1.782287556 For one-tailed tests: p -Value 0.087413942 TDIST value 0.087414 Do not reject the null hypothesis 1- ...

... Conclusion: Reject the null hypothesis, the sample provide enough ... of number of defaulters in bank 1 is greater ... (a) Formulate appropriate hypotheses to test...

... Intermediate Calculations Standard Error of the Mean 1 Z Test... Lower-Tail Test Lower Critical Value -1.644853627 p-Value 0.004661188 Reject the null hypothesis. ...

... Hypothesized Variance =s 2 = 210,250,000 X =(n-1) s 2 ... Since we fail to reject Null Hypothesis we can reject the ... Answers 6 questions on testing of hypotheses. ...