Asked by Peyton Bowers on Jun 30, 2024
Verified
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 with a standard deviation of $16.
a.
Formulate the hypotheses to determine whether or not the average room price is significantly different from $112.
b.
Compute the test statistic.
c.
Using the p-value approach, test the hypotheses.Let α = .1.
Null Hypothesis
The default position that there is no association between two measured phenomena, or no difference among groups being compared.
P-Value
The probability of observing test results at least as extreme as the results actually observed, under the assumption that the null hypothesis is true.
- Acquire knowledge on how to construct null and alternative hypotheses for several statistical assessments.
- Perform calculations of test statistics for assorted data forms and study types.
- Learn about the concept of p-value and the mechanics of its calculation.
Verified Answer
LR
lokeshwar ReddyJun 30, 2024
Final Answer :
a.
H0: μ = $112
Ha: μ ≠ $112
b.
t = -1.75
c.
p-value is between .05 and .1; therefore, reject H0
a.
H0: μ = $112
Ha: μ ≠ $112
b.
t = -1.75
c.
p-value is between .05 and .1; therefore, reject H0
Learning Objectives
- Acquire knowledge on how to construct null and alternative hypotheses for several statistical assessments.
- Perform calculations of test statistics for assorted data forms and study types.
- Learn about the concept of p-value and the mechanics of its calculation.