David claims that the average house price in Toronto is at least $1,100,000. To test his own claim, he randomly selects 50 recently-sold houses in Toronto and notes that the average sale price of these houses is $1,050,000. From other research, he knows that the standard deviation of the house price in Toronto is $200,000. Use the 7 steps and conduct a hypothesis test for David’s claim using the P-value method at the significance level of 5%.
David claims that the average house price in Toronto is at least $1,100,000. To test his own claim, he randomly selects 50 recently-sold houses in Toronto and notes that the average sale price of these houses is $1,050,000. From other research, he knows that the standard deviation of the house price in Toronto is $200,000. Use the 7 steps and conduct a hypothesis test for David’s claim using the P-value method at the significance level of 5%.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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David claims that the average house price in Toronto is at least $1,100,000. To test
his own claim, he randomly selects 50 recently-sold houses in Toronto and notes that the
average sale price of these houses is $1,050,000. From other research, he knows that the
standard deviation of the house price in Toronto is $200,000. Use the 7 steps and conduct a
hypothesis test for David’s claim using the P-value method at the significance level of
5%.
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