To regulate the average price of hotel rooms inMuscat, a sample of 64 hotels was selected. Itwas determined that the average price of therooms in the sample was RO 108.50 with astandard deviation of RO 16. Formulate thehypotheses to determine whether or not theaverage room price is significantly different fromRO 112. Hence,

Name: To regulate the average price of hotel rooms inMuscat, a sample of 64
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Description: To regulate the average price of hotel rooms inMuscat, a sample of 64 hotels was selected. Itwas determined that the average price of therooms in the sample was RO 108.50 with astandard deviation of RO 16. Formulate thehypotheses to determine whethe

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MATLAB: An Introduction with Applications

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ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

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Problem 1P

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To regulate the average price of hotel rooms in
Muscat, a sample of 64 hotels was selected. It
was determined that the average price of the
rooms in the sample was RO 108.50 with a
standard deviation of RO 16. Formulate the
hypotheses to determine whether or not the
average room price is significantly different from
RO 112. Hence,

Expert Solution

Step 1

Null and alternate hypotheses:

The investigator is interested to test whether the population mean price of hotel rooms differs from 112 or not.

Denote the population mean running time of movies as μ.

The hypotheses are given below:

Null hypothesis:

H₀ : μ = 112

That is, the population mean price of hotel rooms is equal to 112.

Alternative hypothesis:

H_a : μ ≠ 112 (Two tail test).

That is, the population mean price of hotel rooms is significantly different from 112.

Critical value:

The level of significance is α = 0.05.

The critical value is obtained as ±1.9983 from the calculation given below:

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