A report states the average rent for office space in a urban area is $17.75 per square foot. A real estate agent claims this average is incorrect. The agent selected a sample of 23 rental properties and found their mean to be $19.25 per square foot, with a sample standard deviation of $3.45 per square foot. Test the claim at alpha = 0.10. Use the P-value method to evaluate/compare with the given alpha (0.10). For question #18, give your calculated value for "t", rounding to the hundredths place. For question #19 (multiple choice), choose between what two areas your calculated t-value (when converted to P-value) falls. For question #20, answer True or False with regard to rejecting the null hypothesis. Hint: this is a two-tailed test!!
A report states the average rent for office space in a urban area is $17.75 per square foot. A real estate agent claims this average is incorrect. The agent selected a sample of 23 rental properties and found their mean to be $19.25 per square foot, with a sample standard deviation of $3.45 per square foot. Test the claim at alpha = 0.10. Use the P-value method to evaluate/compare with the given alpha (0.10). For question #18, give your calculated value for "t", rounding to the hundredths place. For question #19 (multiple choice), choose between what two areas your calculated t-value (when converted to P-value) falls. For question #20, answer True or False with regard to rejecting the null hypothesis. Hint: this is a two-tailed test!!
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