A rental agent claims that the mean monthly rent, , for apartments on the east side...

 

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A rental agent claims that the mean monthly rent, µ, for apartments on the east side of town is less than $700. A random sample of 16 monthly rents for apartments on the east side has a mean of $690, with a standard deviation of $19. If we assume that the monthly rents for apartments on the east side are normally distributed, is there enough evidence to conclude, at the 0.05 level of significance, that u is less than $7007 Perform a one-tailed test. Then fill in the table below. Carry your intermediate computations to at least three decimal places and round your answers as specified in the table. (If necessary, consult a list of formulas.) The null hypothesis: H, :0 IS The alternative hynothesis: ロ=ロ The type of test statistic: (Choose one) The value of the test statistic: (Round to at least three decimal places.) The p-value: (Round to at least three decimal places.) Using the 0.05 level of significance, can we conclude that the mean monthly rent for O No O Yes apartments on the east side is less than $700? A rental agent claims that the mean monthly rent, µ, for apartments on the east side of town is less than $700. A random sample of 16 monthly rents for apartments on the east side has a mean of $690, with a standard deviation of $19. If we assume that the monthly rents for apartments on the east side are normally distributed, is there enough evidence to conclude, at the 0.05 level of significance, that u is less than $7007 Perform a one-tailed test. Then fill in the table below. Carry your intermediate computations to at least three decimal places and round your answers as specified in the table. (If necessary, consult a list of formulas.) The null hypothesis: H, :0 IS The alternative hynothesis: ロ=ロ The type of test statistic: (Choose one) The value of the test statistic: (Round to at least three decimal places.) The p-value: (Round to at least three decimal places.) Using the 0.05 level of significance, can we conclude that the mean monthly rent for O No O Yes apartments on the east side is less than $700?