According to statista.com, the average room rate for a New York City hotel in 2016 was $337.
Question:
According to statista.com, the average room rate for a New York City hotel in 2016 was $337. 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 $351.20. Assume the population standard deviation is $55. Using α = 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.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
a H 0 337 status quo H 1 2260 337 b This sample does not provide ...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
2+ Reviews
10+ Question Solved
Related Book For 
Question Posted:
