Conclude the hypothesis test on median

The p-value you calculated in the previous exercise is available as rent_p_value. Recall the problem statement: We would like to evaluate whether this data provides evidence that the median rent of 1 BR apartments in Manhattan is greater than $2,500. What is the conclusion of the hypothesis test at the 5% significance level?

Possible Answers

We reject $H_0$ since the p-value is above the significance level, and conclude that the data provide convincing evidence that median rent of 1 BR apartments in Manhattan is greater than $2500.
We fail to reject $H_0$ since the p-value is above the significance level, and conclude that the data provide convincing evidence that median rent of 1 BR apartments in Manhattan is greater than $2500.
We reject $H_0$ since the p-value is below the significance level, and conclude that the data do not provide convincing evidence that median rent of 1 BR apartments in Manhattan is greater than $2500.
We fail to reject $H_0$ since the p-value is above the significance level, and conclude that the data do not provide convincing evidence that median rent of 1 BR apartments in Manhattan is greater than $2500.

Exercise

Conclude the hypothesis test on median

Instructions

Possible Answers