Below you’ll find summary statistics and a frequency distribution for apartments located in Vienna, Austria. The variable in particular this information is for contains the “amount of rent charged per month.” Summary statistics, using the observations 1 – 743 for the variable 'rent' (743 valid observations) Mean 777.47 Median 500.00 Minimum 180.00 Maximum 6000.0 Standard deviation 754.00 C.V. 0.96981 Skewness 3.7272 Ex. kurtosis 18.464 5% percentile 270.00 95% percentile 2000.0 Interquartile range 520.00 Missing obs. 0 a. Using the information as furnished above, perform a hypothesis test to determine whether the true population mean of rent is less than 810 euros (alpha = .05). Be certain to write out the null and alternative hypotheses, your critical t or z value, and whether you accept or reject the null hypothesis along with your calculations of the test statistic. b. Using the information as furnished above, perform a hypothesis test to determine whether the true population mean of rent is equal to 750 euros (alpha = .01). Be certain to show the null and alternative hypotheses, your critical t or z value, and whether you accept or reject the null hypothesis along with your calculations of the test statistic.

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

Question

Below you’ll find summary statistics and a frequency distribution for apartments located in Vienna,
Austria. The variable in particular this information is for contains the “amount of rent charged per
month.”
Summary statistics, using the observations 1 – 743 for the variable 'rent' (743 valid observations)

Mean 777.47
Median 500.00
Minimum 180.00
Maximum 6000.0
Standard deviation 754.00
C.V. 0.96981
Skewness 3.7272
Ex. kurtosis 18.464
5% percentile 270.00
95% percentile 2000.0
Interquartile range 520.00
Missing obs. 0
a. Using the information as furnished above, perform a hypothesis test to determine whether the
true population mean of rent is less than 810 euros (alpha = .05). Be certain to
write out the null and alternative hypotheses, your critical t or z value, and whether you accept
or reject the null hypothesis along with your calculations of the test statistic.
b. Using the information as furnished above, perform a hypothesis test to determine whether the
true population mean of rent is equal to 750 euros (alpha = .01). Be certain to
show the null and alternative hypotheses, your critical t or z value, and whether you accept or
reject the null hypothesis along with your calculations of the test statistic.

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

Expert Solution