According to Hotels.com, the average room rate for a New York City hotel was $ 204 in
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According to Hotels.com, the average room rate for a New York City hotel was $ 204 in 2011. Suppose the Chamber of Commerce of New York City would like to test if this rate has changed recently by randomly sampling 40 room rates. The mean of this sample was found to be $ 212.30. Assume the population standard deviation is $ 35. Using σ = 0.05, answer the following.
a. State the null and alternative hypothesis.
b. What conclusions can be drawn for this test?
c. Determine the p value for this test and interpret its meaning.
d. Verify your results using PHStat.
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a H 0 204 status quoH 1 204 b This sample does not provide en...View the full answer
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