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In order to determine the average price of hotel rooms in Atlanta, a sample of 64...

  1. In order to determine the average price of hotel rooms in Atlanta, a sample of 64 hotels was selected.  It was determined that the average price of the rooms in the sample was $108.50. Let the population standard deviation of room price be $16.

a. Formulate the hypotheses to determine whether or not the average room price is significantly different from $110.

            b.   Compute the test statistic.

            c.    At 99% confidence using the p-value approach, test the hypotheses.  

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