FINANCE 6361-The management of Recover Fast Hospital (RFH) claims

Question 3The management of Recover Fast Hospital (RFH) claims that the average length ofstay in their hospital after a major surgery is less than the average length of stay atGeneral Hospital (GH). The following data have been accumulated to test theirclaim. RFHGHSAMPLE SIZE4558SAMPLE MEAN IN DAYS4.64.9POPULATION STANDARD DEVIATION0.50.6a. Formulate the hypotheses.b. Compute the test statistic.c. Using the p-value approach, test to see if the average length of stay in RFH issignificantly less than the average length of stay in GH. Let alpha = 0.05.

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