Contractors association claims the average price of a home in their subdivusion

Question

Contractors association claims the average price of a home in their subdivusion is $125,150 with a standard deviation of $7,350.  A sample of 36 homes for sale in this subdivision had an average selling price of $123,550.  Is ther evidence that the cost of homes for sale in this subdivision are actually lower than claimed?          A.  at a=0.05, what is the critical value?             B.  what is the test value for the problem?                   C.  what is the p-value for a one-sided test of the data provided above?      D.  whaat is conclusion after reviewing the answers for A-D?  Explain conclusion

Explanation / Answer

=125150, =7350 n=36, xbar=123550 The test hypothesis is Ho:>=125150 Ha:

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