Question

In: Statistics and Probability

The Vice-Chancellor of the University of the Sunshine Coast claimed that the average cost of rental...

The Vice-Chancellor of the University of the Sunshine Coast claimed that the average cost of rental accommodation in the area close to campus was $155 per week. The Student Guild, being sceptical about the validity of this claim, took a random sample of 35 quotes and found that the average rental was $149.25 per week. On the basis of advice given to them by a local real estate agent, it could be assumed that the standard deviation of rental prices in the area was $22.50 per week.

1. State the direction of the alternative hypothesis used to test the Vice-Chancellor's claim. Type the letters gt (greater than), ge (greater than or equal to), lt (less than), le (less than or equal to) or ne (not equal to) as appropriate in the box.

2. Use the tables in the text to determine the critical value used to conduct the test, assuming a 5% level of significance. If there are two critical values, state only the positive value.

3. Calculate the test statistic, reporting your answer to two decimal places.

4. Is the null hypothesis rejected for this test? Type yes or no.

5. If it is shown later that the average rental price is $150 per week, determine the nature of the decision made in the test. Type cd (correct decision), 1 (a Type I error was made) or 2 (a Type II error was made) as appropriate.

6. Regardless of your answer for 4, if the null hypothesis was rejected, could we conclude that the Vice-Chancellor's claim is valid? Type yes or no.

Expert Solution

Dear a detailed handwritten solution is also provided. If you have any doubts please comment it, I will help you.. Your satisfaction is important.. If you're satisfied. Please support me. Please THUMBS UP.. Thanks in advance for your support..

Answers

1) ne

2) 1.96

3) 1.51

4) no

5) cd

6) no

orchestra answered 2 years ago

5. If you have the chance to meet the new Vice Chancellor of the University of...

5. If you have the chance to meet the new Vice Chancellor of the University of Namibia, what advice (strategies) will you give him, that could enable university to compete on an international stage with institutions of higher learning. 5. If you have the chance to meet the new Vice Chancellor of the University of Namibia, what advice (strategies) will you give him, that could enable university to compete on an international stage with institutions of higher learning.

The Vice-Chancellor of Macquarie University (Professor Bruce Dowton) is preparing the University's operating plan and wants...

The Vice-Chancellor of Macquarie University (Professor Bruce Dowton) is preparing the University's operating plan and wants to know students' and employees' opinion about the plan. Write a short letter to him and explain why do you think he can (or cannot) use Blockchain technology for this purpose.

Cheap-As-Dirt Rental Company advertises that the average cost of a rental they find for undergraduate students...

Cheap-As-Dirt Rental Company advertises that the average cost of a rental they find for undergraduate students at the University of Oregon is $580 with a standard deviation of $75 (Let us assume the rents are approximately Normally distributed.) The Department of Consumer Protection will investigate the company if, when they choose a sample of students, they find that the average rental cost for those students is $610 or more. Assuming that the company is advertising truthfully, what is the probability...

The Chancellor of the University System has recently indicated that classes in the Fall of 2020...

The Chancellor of the University System has recently indicated that classes in the Fall of 2020 will continue to be virtual to be able to cope with the Corona Virus. Assume that all business students take a student satisfaction survey each semester. A researcher wants to compare two random groups of students from Fall 2019 to Fall 2020 in their satisfaction scores. The Chancellor has indicated that student satisfaction will improve with virtual classes. The groups are called FSS2019 for...

The average cost of a traffic fine is $600 this year. It's claimed that the amount...

The average cost of a traffic fine is $600 this year. It's claimed that the amount has increased. Data collected from a simple random sample of 86 people that have been fined since January, showed that the mean amount was $720. With a standard deviation of $31.75, is there enough evidence to support the claim? a) state null and alternative hypothesis and state the claim b) Find the standardized test statistic. Show complete formula c) Calculate p-value. Is the null...

Question text The Chancellor of the California State University System has recently indicated that classes in...

Question text The Chancellor of the California State University System has recently indicated that classes in the Fall of 2020 will continue to be virtual to be able to cope with the Corona Virus. Assume that all CSULB business students take a student satisfaction survey each semester. A researcher wants to compare compare two random groups of students from Fall 2019 to Fall 2020 in their satisfaction scores. The Chancellor has indicated that student satisfaction will improve with virtual classes....

Increasing Student Enrollment Proposal Case The chancellor of a local private university is looking for ways...

Increasing Student Enrollment Proposal Case The chancellor of a local private university is looking for ways to increase enrollment at his University and circulated a request for a proposal to that effect. In response, the vice president of admissions submitted the following summary proposal. She wishes to enter into a memorandum of understanding with four Universities in the United Kingdom as part of an exchange program. She promises that their earned credits from their Universities will count towards graduation at...

Mermaid Beach Hotel Ltd (Mermaid Hotel) operates a seaside hotel on the Sunshine Coast, providing accommodation,...

Mermaid Beach Hotel Ltd (Mermaid Hotel) operates a seaside hotel on the Sunshine Coast, providing accommodation, bar and restaurant facilities for tourists. Casual and part-time wages are a major expense item, particularly during summer, when up to an additional 30 staff members are employed. In order to keep track of casual and part-time wages, Mermaid Hotel’s operations manager prepares a weekly roster (using Excel) showing: • employee name • employment position (e.g. bar staff) • days and hours rostered for...

Using a college cost estimator, the average of campus rental at George Town is approximately $547...

Using a college cost estimator, the average of campus rental at George Town is approximately $547 per month. Suppose these rates are roughly normal with a standard deviation of $100. Say you take a random sample of 25 students living off campus. 1. What would be the mean and standard error for the distribution of the sample mean? 2. What is the probability that the sample mean would be at least $600? 3. What is the probability that the rent...

A large university claims that the average cost of housing within 5 miles of the campus...

A large university claims that the average cost of housing within 5 miles of the campus is $8900 per scholl year. A high shcool student is preparing her budget for her freshman year at the university. She is concerned that the university's esimate is too low. She obtained a random sample of 81 records and computes the average cost is $9050. Based on earlier data, the population stand deviation is $760. Use a=0.01 level of significance. Step 1. State the...