M1 The average room rate for a hotel in a city in 2016 was $342. Suppose the city's Chamber of Commerce would like to test if this rate has changed recently byrandomly sampling 40 room rates. The mean of this sample was found to be $354 97 Assume the population standard deviation is $55. Using a = 0.01, completeparts a through cWhat is the final conclusion?OA. Reject Ho There is enough evidence to conclude that the average room rate is different from $342OB. Do not reject Ho. There is not enough evidence to conclude that the average room rate is different from $342.OC. Do not reject Ho. There is enough evidence to conclude that the average room rate is different from $342OD. Reject H, There is not enough evidence to conclude that the average room rate is different from $342c. Determine the p-value for this test and interpret its meaningp-value= (Round to three decimal places as needed.)Interpret the meaning of the p-value. Choose the correct answer belowOA. Reject Ho There is enough evidence to conclude that the average room rate is different from $342OB. Reject Ho. There is not enough evidence to conclude that the average room rate is different from $342OC. Do not reject Ho. There is enough evidence to conclude that the average room rate is different from $342OD. Do not repect Ho. There is not enough evidence to conclude that the average room rate is different from $342.ldatc

The question is about hypo. testing for a popl. mean Given : Popl. mean of room rate for a hotel ( μ…

The average room rate for a hotel in a city in 2016 was $342. Suppose the city's Chamber of Commerce would like to test if this rate has changed recently by randomly sampling 40 room rates. The mean of this sample was found to be $354.97 Assume the population standard deviation is $55. Using a = 0.01, complete parts a through c A What is the final conclusion? OA. Reject Ho There is enough evidence to conclude that the average room rate is different from $342. OB. Do not reject Ho. There is not enough evidence to conclude that the average room rate is different from $342 OC. Do not reject Ho. There is enough evidence to conclude that the average room rate is different from $342 OD. Reject Ho. There is not enough evidence to conclude that the average room rate is different from $342 c. Determine the p-value for this test and interpret its meaning p-value= (Round to three decimal places as needed) Interpret the meaning of the p-value. Choose the correct answer below OA. Reject H, There is enough evidence to conclude that the average room rate is different from $342 OB. Reject Ho. There is not enough evidence to conclude that the average room rate is different from $342 OC. Do not reject Ho. There is enough evidence to conclude that the average room rate is different from $342 D. Do not reject Ho. There is not enough evidence to conclude that the average room rate is different from $342.

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.3: Measures Of Spread

Problem 26PFA