The Eagle Ridge Contractors Association claims the average price of a home in their subdivision is $125,150 with a standard deviation of $7,350. A sample of 36 homes for
Sale in this subdivision had an average selling price of $123,550. The Eagle Ridge Home
Owners Association is interested in knowing if the costs of homes for sale in this
Subdivision are actually lower than claimed? What is the p-value for this left-tailed test?
A) 0.1327
B) 0.0951
C) 0.0036
D) 0.0853

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The Answer of The Eagle Ridge Contractors Association claims the average price of a home in their subdivision is $125,150 with a standard deviation of $7,350. A sample of 36 homes for
Sale in this subdivision had an average selling price of $123,550. The Eagle Ridge Home
Owners Association is interested in knowing if the costs of homes for sale in this
Subdivision are actually lower than claimed? What is the p-value for this left-tailed test?
A) 0.1327
B) 0.0951
C) 0.0036
D) 0.0853

The Eagle Ridge Contractors Association Claims the Average Price of a Home