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Computing the standard deviation

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Reference no: EM131705546

A rental agent states that the average rent for an apartment is $750. A sample of 12 renters show that the mean is $732 & the Standard deviation is $17. Is there enough evidence to show that the agent's claim is inflated? Use α = 0.05.

If possible can you please start from the very basics (showing null & alternative hypothesis) as well as what kind of test it is and why?

Reference no: EM131705546

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