On their website, a property management company states that the mean monthly rent for apartments on the east side of town is $650 . A researcher for a consumer advocacy group believes that, due to the construction of newer apartment complexes in neighboring towns, the mean monthly rent on the east side, μ , is now lower. A random sample of 16 monthly rents for apartments on the east side has a mean of $648 , with a standard deviation of $24 . Assume that current monthly rents for apartments on the east side are approximately normally distributed. Based on the sample, is there enough evidence to conclude, at the 0.10 level of significance, that the population mean monthly rent is now less than what is stated on the website? Perform a one-tailed test. Then complete the parts below. Carry your intermediate computations to three or more decimal places. (If necessary, consult a list of formulas.) (a) State the null hypothesis H0 and the alternative hypothesis H1 . H0: H1: (b) Determine the type of test statistic to use. ▼(Choose one) (c) Find the value of the test statistic. (Round to three or more decimal places.) (d) Find the p-value. (Round to three or more decimal places.) (e) Can we conclude that the mean monthly rent for apartments on the east side is less than what is stated on the website? Yes No

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Question

On their website, a property management company states that the mean monthly rent for apartments on the east side of town is

$650

. A researcher for a consumer advocacy group believes that, due to the construction of newer apartment complexes in neighboring towns, the mean monthly rent on the east side,

, is now lower. A random sample of

monthly rents for apartments on the east side has a mean of

$648

, with a standard deviation of

$24

Assume that current monthly rents for apartments on the east side are approximately normally distributed. Based on the sample, is there enough evidence to conclude, at the

0.10

level of significance, that the population mean monthly rent is now less than what is stated on the website?

Perform a one-tailed test. Then complete the parts below.

Carry your intermediate computations to three or more decimal places. (If necessary, consult a list of formulas.)

(a)	State the null hypothesis H0 and the alternative hypothesis H1 .
H0:
H1:
(b)	Determine the type of test statistic to use.
	▼(Choose one)
(c)	Find the value of the test statistic. (Round to three or more decimal places.)

(d)	Find the p-value. (Round to three or more decimal places.)

(e)	Can we conclude that the mean monthly rent for apartments on the east side is less than what is stated on the website?
Yes No

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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