Question

Kuya wanted to study the rental fees for one-bedroom apartment in Orlando. It was published that the average one-bedroom apartment in Florida is $1400. Kuya collected rental fees from 26 local complexes.

FEES ($)
Complex	Fee
1	1350
2	1220
3	1330
4	1550
5	1675
6	1580
7	1570
8	1490
9	1480
10	1495
11	1610
12	1410
13	1430
14	1625
15	1600
16	1275
17	1475
18	1440
19	1605
20	1595
21	1630
22	1280
23	1530
24	1310
25	1610
26	1460

The obtained statistic is:

t = - 4.30

t = 4.30

t = - 3.40

t = 3.40

The associated p value is:

.001

.01

.002

.02

Decision is:

reject the null

retain the null

Conclusion is:

Orlando average rental fee is cheaper than the Florida average

Orlando average rental fee is more expensive than the Florida average

average rental fees are equal

no conclusion can be drawn

Answer 1

Complex	Fee
1	1350
2	1220
3	1330
4	1550
5	1675
6	1580
7	1570
8	1490
9	1480
10	1495
11	1610
12	1410
13	1430
14	1625
15	1600
16	1275
17	1475
18	1440
19	1605
20	1595
21	1630
22	1280
23	1530
24	1310
25	1610
26	1460
Sample mean =		1485.577
Standard deviation =		128.2133

a)

t = 3.40

b) P value = P(t>3.40)+P(t<-3.40)

= 0.002

c) reject the null

d) Orlando average rental fee is more expensive than the Florida average