ps/assessmen ?da-492579. 1 &course-id;, 444 420-1 &content; Medicare would like
ID: 425653 • Letter: P
Question
ps/assessmen ?da-492579. 1 &course-id;, 444 420-1 &content; Medicare would like to test the hypothesis that the average monthly rate for one-bedroom assisted-living facility is less than $3,300. A random sample of 12 assisted-living facilities had an average rate of $2,910 per month. The standard deviation for this sample was $530. Medicar e would like to set a 0.05. The correct hypothesis statement for this hypothesis test would be Ho: - $3,300 H1: u $3,300. ??: $3,300 H1: ? > $3,300. ? H0: ? 2.53.300 H1: ?Explanation / Answer
Answering the Question 20
The test statistic for the question is -2.55
To compute the P value, we'll use the MS Excel function NORM.S.DIST
NORM.S.DIST(-2.55,0) = 0.015449
Hence the value is coming between 0.01 and 0.025. OPTION A
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