A local real estate agent claims that the median selling price of homes in a major midwestern city is more than $200,000. Suppose a random sample of 100 homes sold in the last six months is taken and 53 sold for over $200,000. State the null hypothesis to test the claim. Assume that the population of selling prices is not normally distributed. A) H₀: M_d ≤ $200,000 B) H₀: M_d ≥ $200,000 C) H₀: M_d ≠ $200,000 D) H₀: M_d $200,000

Question

A local real estate agent claims that the median selling price of homes in a major midwestern city is more than $200,000. Suppose a random sample of 100 homes sold in the last six months is taken and 53 sold for over $200,000. State the null hypothesis to test the claim. Assume that the population of selling prices is not normally distributed. A) H₀: M_d ≤ $200,000 B) H₀: M_d ≥ $200,000 C) H₀: M_d ≠ $200,000 D) H₀: M_d > $200,000

Quizplus · Accepted Answer

H₀: M_d ≤ $200,000 vs H_A: M_d > $200,000

A Local Real Estate Agent Claims That the Median Selling