A random sample of 10 one-bedroom apartments from your local newspaper has these monthly rents (dollars): 500 650 600 505 450 550 515 495 650 395 Do these data give good reason to believe that the mean rent of all advertised apartments is greater than $500 per month? Carry out a complete significance test.

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A random sample of 10 one-bedroom apartments from your local newspaper has these monthly rents (dollars): 500 650 600 505 450 550 515 495 650 395 Do these data give good reason to believe that the mean rent of all advertised apartments is greater than $500 per month? Carry out a complete significance test.

Statistics
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can we assume a normal distribution? if so, then what criteria should we be looking for?
yes we can assume a normal distribution @amistre64

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okay start with the mean, what is the mean of this data
The mean is 531
now find the sample standard deviation
82.79157
thats quite a bit of deviation right
yes haha
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right I got that too :)
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you can find the exact probability
but i dont think we can use this one yet actually
okay so what do we do
I know the hypotheses
you have to use a correction factor we cannot assume this sample standard deviation is the same as the real standard deviation of the population
oh what have u studied so far actually depends on that
Have you done null hypothesis test or T-test,
well the lesson I am on is t distributions with the calculator
im sorry but you are better off watching one of these videos https://www.youtube.com/watch?v=Uv6nGIgZMVw
id have to review the rules for t test too, to help you
can you help me find the t value? this is what I did but it is not right. (531 - 500) / the standard deviation (82.79157) = 0.374
What you calculated there is the Z score, t values are different
shoot, you are right
did u watch the video, he is very clear
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find your t and degrees of freedom and look at t chart

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