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Statement of a problem № m1054

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The Greater Jacksonville, Florida, Real Estate Association claims that the median rental for three-bedroom condominiums is more than $1,200 a month. A random sample of 149 units showed 5 rented for exactly $1,200 a month, and 75 rented for more than $1,200. At the .05 level, can we conclude that the median rental is more than $1,200? a. State H0 and H1. b. Give the decision rule. c. Do the necessary calculations, and arrive at a decision.




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