Reis. 9.24 Inc. a New York real estate research firm tracks the cost of apartment rentals in the United S In mid-2002, the nationwide mean apartment rental rate was $895 per month. Assume that, based historical quarterly surveys, a population standard deviation of 225 is reasonable. In a current stu apartment rental rates, a sample of 180 apartments nationwide provided the apartment rental rates in the CD file named RentalRates. Do the sample data enable Reis to conclude that the populatio apartment rental rate now exceeds the level reported in 2002? (a) state the null and alternative hypotheses. (b) What is the p-value? (c) At = 0.01 , what is your conclusion? (d) What would you recommend Reis consider doing at this time?
9.32 According to the National Automobile Dealers Association, the mean price for used cars is $10,1 manager A of a Kansas City used car dealership reviewed a sample of 50 recent used car sales at dealership in an attempt to determine whether the population mean price for used cars at this part dealership differed from the national mean. The prices for the sample of 50 cars are shown in the file named Used Cars. (a) Formulate the hypotheses that can be used to determine whether a difference exists in the mea for used cars at the dealership. (b) What is the p-value? (c) At = 0.01 , what i...