A real estate agent claims that the average price of a home sold in Beaver County, Pennsylvania, is $60,000.Arandom sample of 36 homes sold in the county is selected, and the prices in dollars are shown. Is there enough evidence to reject the agent’s claim at α = 0.05? Assume σ = $76,025.
Perform each of the following steps.
a. State the hypotheses and identify the claim.
b. Find the critical value(s).
c. Compute the test value.
d. Make the decision.
e. Summarize the results.
Use diagrams to show the critical region (or regions), and use the traditional method of hypothesis testing unless otherwise specified.

  • CreatedSeptember 02, 2015
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