The mean of a set of quantitative data, is equal to the sum of the measurements divided by the number of measurements contained in the data set. Keeping this definition in mind, your answer is correct. On the five rental suite, on average, the rent is $16,000.00 per annum.

Of course, if you wanted to calculate the mean rent for a month for this same data set, you would divide $16,000.00 by 12 months equaling $1333.33 ...

Solution Summary

This solution calculates the mean for one problem that provides data from a study on rental housing on income and rent as a percentage of income for a sample of 5 rental units. It provides a step-by-step process.

... Thus to find the Z - score you should have X - values (that is given above), mean and standard deviation. ...Calculating Z score. I'm confused! ...

... So we can use mean and SEM to calculate the confidence interval. ... The mean of these numbers was calculated as well as the normal distribution. ...

...Calculate a 99% confidence interval for the mean endowment of ... fall within the bounds of the calculated interval. d. The probability that the mean falls in the ...

... This means that you must calculate it per grouped data ... IN ITEM #2 ABOVE WERE ALL CALCULATED FROM THE ... given at the stated website for calculating the quartiles ...

... Conclusion : Here calculated value of test statistic (4.673267038) is greater than the ... hypothesis that there is no significant difference in the mean of Prada ...

... 2.2 Calculate the most appropriate measures of dispersion for each variable listed. Show all work. ... (b) Mean = This is calculated as the sum of all the ...

... the calculated t value < table t-value at 5% level of significance. Decision: We accept null hypothesis Ho. Conclusion: The sample means and population mean...

... Then, calculate the test statistic, note the p value and ... Please show your work if you calculated manually. ... test for the difference of population means: t test ...

... Thus sum of Female and Male makes no sense and therefore mean cannot be calculated. In ordinal scale, there is ordering and therefore median can be calculated. ...

... 0.025 0.025 0.0 -2.06 0 2.06 X e. Calculate the test ... Decision rule: Reject the null hypothesis, if the calculated value of ... t Test for Hypothesis of the Mean. ...