Question Set 2: Hypothesis Testing In this question set, you are going to conduct a hypothesis test using the approach introduced on page 7.4.1 of the online course notes. PSU Researchers want to know if there is evidence that the mean monthly rental rate of a one-bedroom apartment in State College, Pennsylvania is different from $1000. Data were collected from a random sample of 40 one-bedroom apartments in State College, Pennsylvania listed on Apartments.com. Minitab was used to compute the following descriptive statistics: Variable Rent Mean SE Mean Rent 40 1074.9 35.2 "SE Mean" is the standard error of the mean. Use the five-step hypothesis testing procedure that is outlined below to conduct a hypothesis test to determine if there is evidence that the population mean is different from $1000. Because the sample size is large, the sampling distribution will be approximately normal and you can use the z distribution to find the p value. Use a 0.05 alpha level. 1. Check assumptions and write hypotheses. 2. Calculate the test statistic. 3. Determine the p value (use the z distribution). 4. Make a decision. 5. State a real-world conclusion