In order to determine the average price of hotel rooms in Atlanta, a sample of 64 hotels was selected. It was determined that the average price of the rooms in the sample was $112.5 with a standard deviation of $15. Use a 0.1 level of significance and determine whether or not the average room price is significantly different from $108. What is the value of the test statistic?
In order to determine the average price of hotel rooms in Atlanta, a sample of 64 hotels was selected. It was determined that the average price of the rooms in the sample was $112.5 with a standard deviation of $15. Use a 0.1 level of significance and determine whether or not the average room price is significantly different from $108. What is the value of the test statistic?
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
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Transcribed Image Text:In order to determine the average price
of hotel rooms in Atlanta, a sample of
64 hotels was selected. It was
determined that the average price of the
rooms in the sample was $112.5 with a
standard deviation of $15. Use a 0.1
level of significance and determine
whether or not the average room price is
significantly different from $108. What is
the value of the test statistic?
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