You randomly choose 16 unfurnished onebedroom apartments fro

You randomly choose 16 unfurnished one-bedroom apartments from a large number of advertisements in your local newspaper. You calculate that their mean monthly rent is $600 and their standard deviation is $55. Does this SRS give good reason to believe that the mean rent of all advertised one-bedroom apartments is greater than $550? State the hypotheses.

The t statistic is ______ (give your answer to 3 decimal places) with df = _____ (Give your answer as a whole number) and P-value of ______ (Give your answer to 4 decimal places).

Solution