Question: A Realtor in Mission Viejo California believes that the average

A Realtor in Mission Viejo, California, believes that the average price of a house is more than $500 thousand.
a. State the null and the alternative hypotheses for the test.
b. Open the MV_Houses data from the text website into an Excel spreadsheet (data are in $1,000s). Use the function Z.TEST to calculate the p-value. Assume the population standard deviation is $100 (in $1,000s).
c. At α = 0.05 what is the conclusion to the test? Is the Realtor’s claim supported by the data?

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  • CreatedJanuary 28, 2015
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