H0, H1, Decision Rule and Decision

The South Carolina Real Estate Association claims that the medianrental for three-bedroom condominiums in a metropolitan area is more than $1,200 a month. To check this, a random sampleof 149 units was selected. Of the 149, 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.

See attached file for full problem description.

Please see the attached file.

Exercise 32
The South Carolina Real Estate Association claims that the median rental for three-bedroom condominiums in a metropolitan area is more than $1,200 a …

Word document attached with the necessary calculations to make a decision on whether median rental in an area of Carolina is more than $1200.