On their website, a property management company states that the mean monthly rent for apartments on the east side of town is $700. 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, , is now lower. A random sample of 12 monthly rents for apartments on the east side has a mean of $687, with a standard deviation of $17. 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 0.05 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 and the alternative hypothesis . (b) Determine the type of test statistic to use. (c) Find the value of the test statistic. (Round to three or more decimal places.) (d) Find the critical value. (Round to three or more decimal places.) (e) Can we conclude that the mean monthly rent for apartments on the east side is less than what is stated on the website?

The null hypothesis is μ≥700 and alternative hypothesis is μ<700, the type of test statistic is t statistic, the statistical test value is -2.650, the critical value is -1.796 and the null hypothesis is reject.

Given the average monthly rent for apartments on the east side of the cities is $700, and the mean for a random sample of 12-month rents for apartments on the east side is $687, with a standard deviation of $17.

Statistical hypothesis testing is an important technique in inferential statistics. Used to test hypotheses about population parameters. Statistical tests are used to compute test statistics and p-values. Finally, use this test statistic and the p-value to make a decision about rejecting the null hypothesis.

(a) Let μ be the population and monthly rent. the null and alternative hypotheses are given below.

Null Hypothesis: μ≥700

Alternative hypothesis: μ< 700 This is a left-sided hypothesis test.

(b) Here, the sample size is less than 30 and the population mean is unknown. Therefore, a one-sample t-test can be used here. Therefore, the t statistic is the test statistic.

(c) Given [tex]\bar{x}[/tex]=687, s=17 and n=12, the test statistic is computed as

[tex]\begin{aligned}t&=\frac{\bar{x}-\mu_{0}}{s/\sqrt{n}}\\ &=\frac{687-700}{17/\sqrt{12}}\\ &=-2.64901888216\\ &=-2.650\end[/tex]

(d) For n-1=12-1=11 degrees of freedom

The critical value for a significance level of 0.05 with 11 degrees of freedom is

[tex]\begin{aligned}t_{crit}&=-1.7959\\ &=-1.796\end[/tex]

(e) Reject the null hypothesis because the statistical test value (-2.650) is less than the critical value (-1.796). There is ample evidence to support the claim that the average monthly rent for East Side apartments is lower than stated on the website.

Hence, The value of test statistic and critical value has a mean of $687 and a standard deviation of $17, which are -2.650 and -1.796.

Learn more about test statistic from here brainly.com/question/16194574

#SPJ1

If the length of the longest side of the rectangle is 20cm find the shaded area to the nearest hundredth

81 - 4x = 147 please help

you put $350 in an account the account earns $17.50 simple interest in 2.5 years was the annual interest rate​

Bona ma numec claudiu si vreu sa stiu si eu cat face 100+340

Jon has to pay $9.00 admission for the skating rink and $2 per hour to
rent roller blades. How many hours can he skate for $19?*
3
5
06

The triangles below are similar. 410R 85° 540 859 Which similarity statements describe the relationship between the two triangles? Check all that apply. ​

Which conveyed the negative message?




pleasssss​

help me, please.....

Hey lol pls help meim rlly bad at math

What is the sum of the measures of the interior angles of a 12-gon ?


A: 1620

B: 1800

C: 1980

D: 2160

PLEASE HELP
WITH THESE TWO QUESTIONS! IF I DONT HAVE THEM DONE IN THE NEXT HOUR IM SCREWED. ILL GIVE BRAINLIEST TO THE PERSON WHO SHOWS THE WORK. (Its the top two questions)

Can someone help me please

I’ll mark as brainliest!!!

Find x and y plz help

I’ll give the Brainliest to who answers these questions with a reasonable explanation.

While surfing the Internet, you find a site that claims to offer “the most popular and the cheapest DVDs anywhere.” Unfortunately, the website isn’t clear about the how much they charge for each DVD, but it does give you the following information:
(The information is the table up there)

a. What is the slope of the line containing the points?

b. What does the slope represent in this problem?

c. What is the y‐intercept of the line that contains the points?

d. What does the y‐intercept represent in this context?

e. What is the equation that represents the line?

Thank you.

help help this is it

A bag contains 4 red, 3 green, and 2 yellow marbles. One marble is randomly chosen What is the probability that the marble picked is red?​

An electronics store has two options for liquidating televisions that have not sold. Option 1: decrease the price of each television by 5% each month Option 2: decrease the price of each television by $30 each month Which function shows the difference in price between option 1 and option 2 for a television that originally costs $350, where x is the number of months since the price decreases began? A. B. C. D.

Simplify the expression using order of operations. 15−7×2+23

w is directly proportional to u if w=5 when u=3,find u when w is =2/7​

-2+4x+5-6x=-x+3,2-2x+1​

Select the correct answer. Factor completely.12x^2+28x 4x(3x + 7) 4x(3x + 28) 4x2(3x + 7) 4(3x + 7)

What is the measure of angle 1

which is smaller 0 or -0​

Given f(x)=-3x+7 and g(x)=2x2 - 8, find g(f(x)).

Which of the following descriptions is TRUE regarding linear and exponential functions?

There is no difference between a linear function and an exponential function.
Linear functions cross the y-axis above exponential functions.
Linear functions slope down, while exponential functions slope up.
Linear functions have a constant slope, while exponential functions start flat and get steeper.

HELP PLEASE DUE TODAY: Write the ratio as a fraction in simplest form.
10 feet to 4 yards

Whats chicken nugget plus chicken nugget​

i rlly need a worded story thingy that equals 2361.
E.g. Jack had 3 apples he a 2 how many apples does he have left ??
That type thing
THANKS xx

Plz help meeeeeeee !!!!!

Need this answer asap