Medicare would like to test the hypothesis that the standard deviation for the monthly rate for a one-bedroom assisted-living facility is more than $400
A random sample of 17 assisted living facilities had a standard deviation of $530. Using ? = 0.01, the conclusion for this hypothesis test would be that because the test statistic is ___________________________.
A) more than the critical value, we fail to reject the null hypothesis and conclude that the standard deviation for the monthly rates of one bedroom assisted-living facilities is more than $400
B) less than the critical value, we reject the null hypothesis and cannot conclude that the standard deviation for the monthly rates of one bedroom assisted-living facilities is more than $400
C) less than the critical value, we fail to reject the null hypothesis and cannot conclude that the standard deviation for the monthly rates of one bedroom assisted-living facilities is more than $400
D) more than the critical value, we fail to reject the null hypothesis and cannot conclude that the standard deviation for the monthly rates of one bedroom assisted-living facilities is more than $400
C
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