Question

In: Statistics and Probability

A hotel manager claims that the average of the pricethat customer will pay to stay...

A hotel manager claims that the average of the price that customer will pay to stay at their hotel is 500. At α = 0.01 is the claim realistic? The data on the price per night for a sample of six rooms in the hotel are shown.

Price per
night 713 300 292 311 598 401 618

Give a reason why the claim might be deceptive.

Expert Solution

the necessary calculation table:-

price per night (x)	x²
713	508369
300	90000
292	85264
311	96721
598	357604
401	160801
618	381924
sum=3233	sum=1680683

sample size(n) = 7

here, we will do 1 sample t test for mean.

hypothesis:-

test statistic be:-

df = (n-1) = (7-1 ) = 6

p value be :-

[ in any blank cell of excel type =T.DIST(-0.571,6,TRUE) press enter]

decision:-

p value = 0.5887 > 0.01 (alpha)

so, we fail to reject the null hypothesis.

conclusion:-

there is sufficient evidence to support the hotel manager's claim, that the average of the price that customer will pay to stay at their hotel is 500 at 0.01 level of significance.The claim is realistic.

orchestra answered 2 years ago

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