Suppose that in past years the average price per square foot for warehouses in the United States
Question:
Suppose that in past years the average price per square foot for warehouses in the United States has been $32.28.A national real estate investor wants to determine whether that figure has changed now. The investor hires a researcher who randomly samples 49 warehouses that are for sale across the United States and finds that the mean price per square foot is $31.67,with a standard deviation of $1.29.Assume that prices of warehouse footage are normally distributed in population. If the researcher uses a 5% level of significance, what statistical conclusion can be reached? What are the hypotheses?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Business Statistics For Contemporary Decision Making
ISBN: 978-1118749647
8th edition
Authors: Black Ken
Question Posted: