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dhagstro dhagstro
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Medicare would like to test the hypothesis that the median monthly rate for one-bedroom assisted-living facility is equal $3,300. The following table summarizes one-bedroom rates at assisted-living facilities from a random sample. Test this hypothesis using α = 0.05.

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Business Statistics


Edition: 2nd
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LiarecLiarec
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More questions for this book are available here
H0: Median = $3,300
H1: Median ≠ $3,300
S = 32
n = 32 + 16 = 48
μ = 0.5n = (0.5)(48) = 24
σ =  =  = 3.464
zS =  =  = 2.17
p-value = 2×P(x ≥ zS)
p-value = 2×P(x ≥ 2.17) = 2(1.0 - 0.9850) = 0.0300
Because our p-value (0.0300) is less than α = 0.05, we reject the null hypothesis. We have enough evidence to conclude that the median monthly rate for one-bedroom assisted-living facility is not equal $3,300.

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