Question: According to Reis Inc a real estate data firm the
According to Reis Inc., a real estate data firm, the median monthly apartment rent in the United States in October 2012 was $ 1,044. Suppose the manager of an apartment complex would like to test this report by taking a random sample of apartment rents. The data for this sample are as follows.
Using α = 0.05, perform a hypothesis test to determine if the median monthly apartment rent in the United States in October 2012 was indeed $ 1,044.
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