Solved

Use a 005 Significance Level and Conduct a Full Hypothesis Test

Question 59

Essay

Use a 0.05 significance level and conduct a full hypothesis test. List the null and alternative hypotheses, the z-score, the P-value, and whether to reject or not reject the null hypothesis. Round z-scores to the nearest tenth.
-The National Association of Realtors reported that the mean selling price last year for homes in one city was $116,800. The city housing department feels that this figure is too low. They randomly selected 91 home sales and obtained a mean selling price of $117,900 and a standard deviation of $3700. Test the claim that the mean selling price was $116,800.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents