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In the space below, explain to someone who does not know statistics the purpose of hypothesis testing. A business analyst is conducting a hypothesis test.
In the space below, explain to someone who does not know statistics the purpose of hypothesis testing. A business analyst is conducting a hypothesis test. The analyst has sampled rents currently paid and uses a null hypothesis that indicates the rent level is less than or equal to past rents. For the Zstatistic, the analyst has obtained a probability value of 0.0425. For a significance level of 5%, describe the outcome of the hypothesis test and what it means in terms of the rent levels
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