A rental agent claims that the mean monthly rent, J, for apartments on the east side of town is less than $700. A random sample of 17 monthly rents for apartments on the east side has a mean of $692, with a standard deviation of $23. If we assume that the monthly rents for apartments on the east side are normally distributed, is there enough evidence to conclude, at the 0.05 level of significance, that u is less than $700? Perform a one-tailed test. Then complete the parts below. Carry your intermediate computations to three or more decimal places and round your answers as specified In the table. (If necessary, consult a list of formulas.) OO (a) State the null hypothesis Ho and the alternative hypothesis H. H O P Ho :0 X S p (b) Determine the type of test statistic to use. Z O=0 030 020 (c) Find the value of the test statistic. (Round to three or more decimal places.) 0 X ? (d) Find the p-value. (Round to three or more decimal places.) 0 (e) Using the 0.05 level of significance, can we conclude that the mean monthly rent for apartments on the east side Is less than $700? Yes ONo Check Save For Later Submit Assignment