Arealtor claims that no more than half of the homes he sells are sold for less than the asking price. when reviewing a random sample of 12 sales over the past year, he found that actually 10 were sold below the asking price.

(a) the assumption of normality is justified.

yes

no

(b-1) calculate a p-value for the observed sample outcome, using the normal distribution. (round your z-value to 2 decimal places. round your answer to 4 decimal places.)

p-value

(b-2) at the .05 level of significance in a right-tailed test, is the proportion of homes sold for less than the asking price greater than 50%?

yes

no

(c) use excel to calculate the binomial probability p(x ≥ 10 | n = 12, ππ = .50) = 1 − p(x ≤ 9 | n = 12, ππ = .50). (round your answer to 4 decimal places.)

p(x ≥ 10)