Problem (One tailed test)

A rental agent claims that the mean monthly rent, mu, for apartments on the east side of town is less than $725. A random sample of 13 monthly rents for apartments on the east side has a mean of $724, with a standard deviation of $15. If we assume that the monthly rents for apartments on the east side are normally distributed, is there enough evidence to conclude, at the 0.1level of significance, that mu is less than $725?

Question

- H0 (null hypothesis):

- H1 (alternative hypothesis):

- Type of test statistic: (Z, t, F, chi squared)

- The value of the test statistic (round to at least 3 decimal places):

- The p-value (round to at least 3 decimal places): ___

- Using the 0.1 level of significance, can we conclude that the mean monthly rent for apartments on the east side is less than $725? (yes, no)