Question

According to bankrate.com, the average cost to remodel a home office is $10,526. Assuming a population standard deviation of $2000 and the sample of home office conversion prices charged for 40 recent jobs performed by builders in a region of the United States, examine whether the mean price for home office conversions for builders in this region might be different from the average for the nation as a whole. The underlying data are in file XR10033. Identify and interpret the p-value for the test. Using the 0.05 level of significance, what conclusion will be reached?
A computer and statistical software.


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  • CreatedSeptember 08, 2015
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