A report states the average rent for office space in a urban
area is $17.75 per...
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A report states the average rent for office space in a urbanarea is $17.75 per square foot. A real estate agent claims thisaverage is incorrect. The agent selected a sample of 26 rentalproperties and found their mean to be $19.25 per square foot, witha sample standard deviation of $3.55 per square foot. Test theclaim at alpha = 0.10. Use the P-value method to evaluate/comparewith the given alpha (0.10
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Solution Given thatPopulation mean 1775Sample mean 1925Sample standard deviation s 355Sample size n
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