Based on an indication that mean daily car-rental rates may be higher in Melbourne than in Sydney,

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Based on an indication that mean daily car-rental rates may be higher in Melbourne than in Sydney, a survey of eight car-rental companies in Melbourne is taken and the sample mean car-rental rate is $47 with a standard deviation of $3. Further, a survey of nine car-rental companies in Sydney results in a sample mean of $44 and a standard deviation of $3. Use α = 0.01 to test whether the average daily car-rental rates in Melbourne are significantly higher than those in Sydney. Assume car-rental rates are normally distributed and the population variances are equal.

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Business Analytics And Statistics

ISBN: 9780730363330

1st Edition

Authors: Ken Black, John Asafu Adjaye, Paul Burke, Nelson Perera, Carl Sherwood, Saleh A. Wasimi

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