Commercial real estate prices and rental rates suffered substantial declines in 2008 and 2009.† These declines were particularly severe in Asia; annual lease rates in Tokyo, Hong Kong, and Singapore declined by 40% or more. Even with such large declines, annual lease rates in Asia were still higher than those in many cities in Europe. Annual lease rates for a sample of 30 commercial properties in an Asian city showed a mean of $1,120 per square meter with a standard deviation of $230. Annual lease rates for a sample of 40 commercial properties in a European city showed a mean lease rate of $983 per square meter with a standard deviation of $195.
(a)
On the basis of the sample results, can we conclude that the mean annual lease rate is higher in the Asian city than in the European City? Develop appropriate null and alternative hypotheses. (Let μ1 = population mean annual lease rate per square meter in the Asian city and μ2 = population mean annual lease rate per square meter in the European city.)
H0:
μ1 − μ2 ≤ 0
Ha:
μ1 − μ2 > 0
H0:
μ1 − μ2 > 0
Ha:
μ1 − μ2 ≤ 0
H0:
μ1 − μ2 ≤ 0
Ha:
μ1 − μ2 = 0
H0:
μ1 − μ2 ≠ 0
Ha:
μ1 − μ2 = 0
H0:
μ1 − μ2 = 0
Ha:
μ1 − μ2 ≠ 0
(b)
What is the value of the test statistic? (Round your answer to three decimal places.)
What is the p-value? (Round your answer to four decimal places.)
Commercial real estate prices and rental rates suffered substantial declines in 2008 and 2009.† These declines...
Commercial real estate prices and rental rates suffered substantial declines in 2008 and 2009.† These declines were particularly severe in Asia; annual lease rates in Tokyo, Hong Kong, and Singapore declined by 40% or more. Even with such large declines, annual lease rates in Asia were still higher than those in many cities in Europe. Annual lease rates for a sample of 30 commercial properties in an Asian city showed a mean of $1,116 per square meter with a standard...
You may need to use the appropriate technology to answer this question. Commercial real estate prices and rental rates suffered substantial declines in 2008 and 2009.T These declines were particularly severe in Asia; annual lease rates in Tokyo, Hong Kong, and Singapore declined by 40 % or more. Even with such large declines, annual lease rates in Asia were still higher than those in many cities in Europe. Annual lease rates for a sample of 30 commercial properties in an...
A commercial real estate agent claims that office in a
particular city is available for lease rate of 100$ per square
foot. A sample of 30 properties available for lease provides an
average of $107.81 and a standard deviation of $33.47. The
researchers is intent in finding evidence at the .10 level that the
average lease rate is not $100 per square foot. Which of the
following pairs of hypotheses correctly expresses the question of
interest?
Questions 1 through 5...
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