Question

Kuya wanted to study the rental fees for one-bedroom apartment in Orlando. It was published that...

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:

 0.001
 0.01
 0.002
 0.02

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

 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

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