Realtor Elaine Snyderman took a random sample of 12 homes in a prestigious suburb of Chicago and found the average appraised market value to be $780,000, and the standard deviation was $49,000. Test the hypothesis that for all homes in the area, the mean appraised value is $825,000 against the alternative that it is less than $825,000. Use the 0.05 level of significance.
Realtor Elaine Snyderman took a random sample of 12 homes in a prestigious suburb of Chicago and found the average appraised market value to be $780,000, and the standard deviation was $49,000. Test the hypothesis that for all homes in the area, the mean appraised value is $825,000 against the alternative that it is less than $825,000. Use the 0.05 level of significance.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 30PPS
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