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For each problem, show at minimum: 1) 2) The null and alternative hypotheses, written using proper notation (2 points) The test statistic calculation showing: a.
For each problem, show at minimum: 1) 2) The null and alternative hypotheses, written using proper notation (2 points) The test statistic calculation showing: a. For the first problem, show the letter ofthe test statistic, the formula for the test statistic, the numbers filled into the formula, and the final result. Round the test statistic to three decimals. (3 points) b. For the second problem, show your work. Keep intermediate calculations at four decimals. Round the test statistic to three decimals. (5 points) The rejection step showing BOTH the p-value approach (2 points) AND the CV approach (2 points). You do not need to draw the rejection diagram unless you want to. You must show the proper p- value (to four decimals) and proper CV or CVs, and the rejection rule (whether in numbers or with the diagram) that led you to your decision about the null hypothesis. State what happened to the null and the alternative hypotheses to get full credit. Interpret the test result, referencing the alpha significance level (or percent confidence level), and answering all questions asked. (3 points) Be sure to fill out the ANOVA Summary Table (2 points). 1) 1) A realty analysis firm kept historical data on rental prices in a particular city called Benburg. For a considerable period of time, the variance of rental prices in Ben burg was around 1,625,625. An analyst at the firm was assigned to test whether the population variance of rental prices had fallen below this historical value. The analyst collected a random sample of 25 rental homes and measured their monthly rent. The variance in the sample was 902,500. Rents are normally distributed. Perform and interpret the hypothesis test this analyst should do to determine whether the population variance in rental prices in Benburg is less than 1,625,625. Use an Ct = 0.05 significance level. Does the result show that the population variance of rental prices in Benburg has fallen below its historical level
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