# stats

posted by .

Cushman and Wakefield accounting that the average annual rent for office space in Tampa was \$17.63 per square foot. A real estate agent selected a random sample of 15 rental properties (offices) and found that mean rent was \$18.72 per square foot and s= \$3.64. At a= 0.05, test the claim that agents the mean rent is greater than \$17.63.

• stats -

Z = (mean1 - mean2)/standard error (SE) of difference between means

SEdiff = √(SEmean1^2 + SEmean2^2)

SEm = SD/√n

If only one SD is provided, you can use just that to determine SEdiff.

Find table in the back of your statistics text labeled something like "areas under normal distribution" to find the proportion/probability related to the Z score.

## Similar Questions

1. ### accounting

Computing in the Business World Suppose you are opening a 1,000 square foot baseball card store in a shopping center. You have signed a lease that requires you to pay a monthly rent of \$1.75 per square foot, plus 5% of your gross annual …
2. ### accounting and finance

unadjusted trail balance(December 31,2008)(Bed Bugs R Us Ltd): prepaid rent \$8,000 rent expense \$24,000 adjusting entry question: 4 months worth of prepaid rent had been purchased on September 1 2007 in an adjacent building to b used …
3. ### Accounting

On January 1, 2009, Sweetwater Furniture Company leased office space under a 21-year operating lease agreement. The contract calls for annual rent payments on December 31 of each year. The payments are \$11,000 the first year and increase …
4. ### optimization calculus

a real estate office manages 50 apartments in downtown building . when the rent is 900\$ per month, all the units are occupied. for every 25\$ increase in rent, one unit becomes vacant. on average , all units require 75\$ in maintenance …
5. ### math

Rental cost for offices spaces have been going up at 6.2% per year compounded annually for the past 5 years. If office space rent is now \$32 per square foot per month, what were the rental rates 5 years ago
6. ### statistics

One method for estimating the availability of office space in large cities is to conduct a random sample of offices, and calculate the proportion of offices currently being used. Suppose that real estate agents believe that of all …
7. ### Statistics

The mean monthly rent for a one-bedroom apartment without a doorman in Manhattan is \$2,636. Assume the standard deviation is \$500. A real estate firm samples 100 apartments. What is the probability that the average rent of the sample …
8. ### Operation

Parsa Real Estate is a company that buys and rents real estate. The company is looking into buying an office building for \$1M.Thebuilding has 10,000 square feet of rentable office space. The company analysts predict that they can rent …
9. ### Calculus

A real estate office manages 50 apartments in a downtown building. When the rent is \$900 per month, all the units are occupied. For every \$25 increase in rent, one unit becomes vacant. On average, all units require \$75 in maintenance …
10. ### accounting

On January 1, 2013, Sweetwater Furniture Company leased office space under a 21-year operating lease agreement. The contract calls for annual rent payments on December 31 of each year. The payments are \$19,000 the first year and increase …

More Similar Questions