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Home Q & A Board Science-Related Homework Help Mathematics Statistics and Probability
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jprust87 jprust87
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6 years ago
The average price of homes sold in the U.S. in the past year was 220,000 . A random sample of 81 homes sold this year showed an average price of 210,000 . It is known that the standard deviation of the population is 36,000 . At a 5 level of significance, test to determine if there has been a significant decrease in the average price of homes.
 a. State the null and alternative hypotheses to be tested.
  b. Compute the test statistic.
  c. Determine the critical value for this test.
  d. What do you conclude?
  e. Compute the p-value.
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irina99irina99
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