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A rental agent claims that the mean monthly rent , u, apartment on the east side... A rental agent claims that the mean monthly rent,

A rental agent claims that the mean monthly rent , u, apartment on the east side...

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A rental agent claims that the mean monthly rent, ju, for apartments on the east side of town is less than $700. A random sample of 19 monthly rents for apartments on the east side has a mean of $689, with a standard deviation of $25. If we assume that the monthly rents for apartments on the east side are normally distributed, is there enough evidence to conclude, at the 0.1 level of significance, that u is less than $700? Perform a one-tailed test. Then fill in the table below. Carry your intermediate computations to at least three decimal places and round your answers as specified in the table. OO The null hypothesis: H : O X S P D The alternative hypothesis: H : The type of test statistic: (Choose one) v - OSO 020 - 0 The value of the test statistic: (Round to at least three decimal places.) X 5 ? The critical value at the 0.1 level of significance: (Round to at least three decimal places.) Using the 0.1 level of significance, can we conclude that the mean monthly rent for apartments on the east side is less than $700? Yes No

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