A realtor in Mission Viejo, California, believes that the standard deviation of house prices is more than
Question:
A realtor in Mission Viejo, California, believes that the standard deviation of house prices is more than 100 units, where each unit equals $1,000. Assume house prices are normally distributed.
a. State the null and the alternative hypotheses for the test.
b. Calculate the value of the test statistic.
c. Find the p-value.
d. At α = 0.05, what is the conclusion? Is the realtor’s claim supported by the data?
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a b c The pvalue d Since the pvalue 0...View the full answer
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Related Book For
Business Statistics Communicating With Numbers
ISBN: 9781259957611
3rd Edition
Authors: Sanjiv Jaggia
Question Posted:
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