Diller & Fisher is a real estate company that rents vacation properties in an oceanside community in

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Diller & Fisher is a real estate company that rents vacation properties in an oceanside community in New Jersey. They believe that the following table represents the probability distribution for the number of bedrooms for rental properties.

The number of bedrooms from a random sample of rental properties that Diller & Fisher collected is shown here.

a. Using α = 0.10, does this sample provide enough evidence to support Diller & Fisher’s belief about the probability distribution?

b. Determine the p-value for the chi-square test statistic using Excel and interpret its meaning.

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Business Statistics

ISBN: 9780321925121

2nd Edition

Authors: Robert A. Donnelly

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