In order to determine the average price of hotel rooms in Atlanta, a sample of 64 hotels was selected. It was determined that the average price of the rooms in the sample was $108.50 with a standard deviation of $16
a. Formulate the hypotheses to determine whether or not the average room price is significantly different from $112.
b. Compute the test statistic.
c. At 95% confidence using the p-value approach, test the hypotheses. Let ? = 0.1.
a. H0: ? = 112
Ha: ? ? 112
b. t = -1.75
c. p-value is between 0.025 and 0.05; therefore, do not reject H 0
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