Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Suppose that you are responsible for making arrangements for a business convention and that you have been charged with choosing a city for the
Suppose that you are responsible for making arrangements for a business convention and that you have been charged with choosing a city for the convention that has the least expensive hotel rooms. You have narrowed your choices to Atlanta and Houston. The table below contains samples of prices for rooms in Atlanta and Houston that are consistent with a SmartMoney survey conducted by Smith Travel Research. Because considerable historical data on the prices of rooms in both cities are available, the population standard deviations for the prices can be assumed to be $38 in Atlanta and $27 in Houston. Atlanta Houston Atlanta Houston Atlanta Houston Atlanta Houston 85 120 100 95 115 85 85 110 90 80 90 150 125 75 110 110 60 95 120 140 75 85 120 85 65 120 115 60 105 75 95 105 95 100 60 145 100 150 110 100 65 110 120 110 125 150 90 85 55 75 70 120 105 65 60 90 120 125 110 85 60 75 130 95 110 65 55 85 65 105 105 135 60 105 125 Based on the sample data, can you conclude that the mean price of a hotel room in Atlanta is lower than one in Houston? Use a = 0.05 and null hypothesis is Ho: A B 0. Enter negative values as negative numbers. Z value p-value We (to 2 decimals) (to 4 decimals) - Select your answer - that the mean price of a hotel room in Atlanta is lower than the mean price of a hotel room in Houston.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started