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Author Question: The average price of homes sold in the U.S. in the past year was $220,000. A random sample of 81 ... (Read 21 times)

fungirl

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on: Mar 25, 2023

The average price of homes sold in the U.S. in the past year was $220,000.  A random sample of 81 homes sold this year showed an average price of $210,000.  It is known that the standard deviation of the population is $36,000.  At 95% confidence test to determine if there has been a significant decrease in the average price homes.

a.State the null and alternative hypotheses to be tested.
b.Compute the test statistic.
c.Determine the critical value for this test.
d.What do you conclude?
e.Compute the p-value.

Essentials of Statistics for Business and Economics ¦ Anderson, Sweeney, Williams, Camm, Cochran ¦ 7th Edition
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Marked as best answer by fungirl on Mar 25, 2023

kyledifference

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Reply #1 on: Mar 25, 2023
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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fungirl

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Reply 2 on: Mar 25, 2023
YES! Correct, THANKS for helping me on my review

kishoreddi

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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