A real estate broker’s newsletter says the average price of a house in a metropolitan area is $300,000. A random sample of 50 house prices in the metropolitan area yielded x = $320,000. Assuming s = $47,000, you want to know whether the sample data cast doubt on the listing in the broker’s newsletter. State the null and alternative hypotheses for the appropriate hypothesis test.

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.7: Probability
Problem 1SE: What term is used to express the likelihood of an event occurring? Are there restrictions on its...
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A real estate broker’s newsletter says the average price of a house in a metropolitan area is $300,000. A random sample of 50 house prices in the metropolitan area yielded = $320,000. Assuming s = $47,000, you want to know whether the sample data cast doubt on the listing in the broker’s newsletter. State the null and alternative hypotheses for the appropriate hypothesis test.

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