5. Median Price of Homes in Austin. In 2015 the median price of homes in Austin,...

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5. Median Price of Homes in Austin. In 2015 the median price of homes in Austin, Texas, was $248,640 (Austin HomeSearch website). A sample of 200 homes sold in the south Austin suburb of Westlake Hills found 111 homes with sales prices over $248,640 and 89 homes with sales prices under $248,640. Can you conclude that the median price of homes in Westlake Hills differs from the median price of homes in Austin? Use a =.05. State the null: Ho: Median 248,640 Use the normal approximation with = .5n = .5(200) = 100 and With the number of plus signs = 111 in the upper tail, use the continuity correction factor and the normal distribution approximation as follows: P(111 or more plus signs) = The two-tailed p-value = p-value .05; do not reject HO We are able to conclude that the median price of homes in Westlake Hills differs from $248,640. 5. Median Price of Homes in Austin. In 2015 the median price of homes in Austin, Texas, was $248,640 (Austin HomeSearch website). A sample of 200 homes sold in the south Austin suburb of Westlake Hills found 111 homes with sales prices over $248,640 and 89 homes with sales prices under $248,640. Can you conclude that the median price of homes in Westlake Hills differs from the median price of homes in Austin? Use a =.05. State the null: Ho: Median 248,640 Use the normal approximation with = .5n = .5(200) = 100 and With the number of plus signs = 111 in the upper tail, use the continuity correction factor and the normal distribution approximation as follows: P(111 or more plus signs) = The two-tailed p-value = p-value .05; do not reject HO We are able to conclude that the median price of homes in Westlake Hills differs from $248,640.