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From a sample of 100 rental homes in your area you have found that the mean...

From a sample of 100 rental homes in your area you have found that the mean rent is $1,580 with a standard deviation of $300. You know the mean nationally is $1430, but you do not know the standard deviation nationally. Calculate the appropriate obtained statistic for hypothesis testing. Round to second decimal place.

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Answer #1

We have for given sample,                  
Population mean for given sample=$1430  
Sample mean=$1580          
Sample standard deviation= s=$300      
Sample size =n=100

t test statistic formula is      



  
=5          

Obtained t test statistic =5.00
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