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The fair market rent (FMR) for a two-bedroom unit in Maine is $692. A sample of 25 randomly selected two-bedroom units in Maine yielded a
The fair market rent (FMR) for a two-bedroom unit in Maine is $692. A sample of 25 randomly selected two-bedroom units in Maine yielded a mean of $704 and a standard deviation of $120. At the 5% significance level, test the claim that the mean monthly rent for two-bedroom units in Main is greater than the FMR of $692 Is this a z-score or a t-score problem? Ho H HAH Is this right-tailed, left-tailed, or two-tailed test? Test statistic Critical value OR P-value: Decision: Conclusion: There is evidence to the claim that the mean monthly rent for two-bedroom units in Main is greater than the FMR of $692
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