The average room rate for a hotel in a city in 2016 was $342. Suppose the city's Chamber of Commerce would like to test if this rate has changed recently by randomly sampling 40 room rates. The mean of this sample was found to be $354.97 Assume the population standard deviation is $55. Using a = 0.01, complete parts a through c A What is the final conclusion? OA. Reject Ho There is enough evidence to conclude that the average room rate is different from $342. OB. Do not reject Ho. There is not enough evidence to conclude that the average room rate is different from $342 OC. Do not reject Ho. There is enough evidence to conclude that the average room rate is different from $342 OD. Reject Ho. There is not enough evidence to conclude that the average room rate is different from $342 c. Determine the p-value for this test and interpret its meaning p-value= (Round to three decimal places as needed) Interpret the meaning of the p-value. Choose the correct answer below OA. Reject H, There is enough evidence to conclude that the average room rate is different from $342 OB. Reject Ho. There is not enough evidence to conclude that the average room rate is different from $342 OC. Do not reject Ho. There is enough evidence to conclude that the average room rate is different from $342 D. Do not reject Ho. There is not enough evidence to conclude that the average room rate is different from $342.
The average room rate for a hotel in a city in 2016 was $342. Suppose the city's Chamber of Commerce would like to test if this rate has changed recently by randomly sampling 40 room rates. The mean of this sample was found to be $354.97 Assume the population standard deviation is $55. Using a = 0.01, complete parts a through c A What is the final conclusion? OA. Reject Ho There is enough evidence to conclude that the average room rate is different from $342. OB. Do not reject Ho. There is not enough evidence to conclude that the average room rate is different from $342 OC. Do not reject Ho. There is enough evidence to conclude that the average room rate is different from $342 OD. Reject Ho. There is not enough evidence to conclude that the average room rate is different from $342 c. Determine the p-value for this test and interpret its meaning p-value= (Round to three decimal places as needed) Interpret the meaning of the p-value. Choose the correct answer below OA. Reject H, There is enough evidence to conclude that the average room rate is different from $342 OB. Reject Ho. There is not enough evidence to conclude that the average room rate is different from $342 OC. Do not reject Ho. There is enough evidence to conclude that the average room rate is different from $342 D. Do not reject Ho. There is not enough evidence to conclude that the average room rate is different from $342.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 26PFA
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