Question: A property manager thinks that the average rent for one-bed room flat his city has gone up to AED 6000 per month. He took a sample of 60 flats and found out that the sample mean was AED 6015 and sample standard deviation was 40.
a. Test the claim that the mean rent is 6000 or less (H0 μ ≤ 6000, H1 μ > 6000, α = 0.05, assume
b. Interpret your test results in the context of the problem.