Asked by Krish
A rental agency claims that the average rent that small business establishments pay in Suva city is $800. A sample of 10 establishments shows an average rate of $20. At alpha = 0.05, there enough evidence to reject the agencies claim? Assume that the population is approximately normally distributed.
Answers
Answered by
PsyDAG
Are you missing a zero in the second rate?
Z = (score-mean)/SEm
SEm = SD/√n
Find table in the back of your statistics text labeled something like "areas under normal distribution" to find the proportion/probability related to the Z score. Is it less than .05?
Z = (score-mean)/SEm
SEm = SD/√n
Find table in the back of your statistics text labeled something like "areas under normal distribution" to find the proportion/probability related to the Z score. Is it less than .05?
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