John, an experienced Airbnb host claims that true average rental price per night for a shared room in lower east side of Manhattan is $100. A sample of 15 shared room rentals from the neighborhood yields a sample average price per night of $85 with a standard deviation $17 (source: Kaggle.com). Suppose the distribution of price per night is normally distributed. Is there sufficient evidence to believe that average price per night for a shared room in Manhattan’s lower east side is less than what John claims? (Use 5% significance level)? (3 points) Calculate the p value for the test. You may use MINITAB to get the numerical value of the p value. However, you MUST clearly state the p value as a probability statement. (5 points) Make the decision about the null hypothesis and write the final conclusion in the context of the problem.

John, an experienced Airbnb host claims that true average rental price per night for a shared room in lower east side of Manhattan is $100. A sample of 15 shared room rentals from the neighborhood yields a sample average price per night of $85 with a standard deviation $17 (source: Kaggle.com). Suppose the distribution of price per night is normally distributed. Is there sufficient evidence to believe that average price per night for a shared room in Manhattan’s lower east side is less than what John claims? (Use 5% significance level)? (3 points) Calculate the p value for the test. You may use MINITAB to get the numerical value of the p value. However, you MUST clearly state the p value as a probability statement. (5 points) Make the decision about the null hypothesis and write the final conclusion in the context of the problem.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.4: Distributions Of Data

Problem 19PFA

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