David wants to rent an unfurnished apartment for next semester. He took a random

Question

David wants to rent an unfurnished apartment for next semester. He took a random sample of 9 apartments advertised in the local Halifax paper, and recorded the rental rates. The rents (in $ per month) were: Rental Rates 500 650 600 505 450 550 515 495 640 1. A student at the University of Calgary carried out a similar study, but using a sample of 16 apartments. The value of the test statistic for that study was 2.71. What would be the p-value to test against the alternative that the mean rent is not equal to $500.

Explanation / Answer

it's two tailed t test and we calcualte the value as following-

p-value :
the two tail - Ha : ( P = 2.71 ) = 0.0267

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