A researcher wants to test if the mean price of houses in an area is greater than $145,000. Suppose we make the test at the 2% significance level. A sample of 36 houses selected from this area produces a mean price of $149,750 and a standard deviation of $24,600. What is the value of the test statistic?

The value of the test statistic is 1.158.

Step-by-step explanation:

We are given that a researcher wants to test if the mean price of houses in an area is greater than $145,000.

A sample of 36 houses selected from this area produces a mean price of $149,750 and a standard deviation of $24,600.

Let = mean price of houses in an area.

SO, Null Hypothesis, :  $145,000   {means that the mean price of houses in an area is smaller than or equal to $145,000}

Alternate Hypothesis, : > $145,000   {means that the mean price of houses in an area is greater than $145,000}

The test statistics that will be used here is One-sample t test statistics as we don't know about the population standard deviation;

                      T.S.  =  ~

where,  = sample mean price of houses selected = $149,750

             s = sample standard deviation = $24,600

             n = sample of houses = 36

So, test statistics  =    ~     

                               =  1.158

The value of the test statistic is 1.158.

i believe it is c.y = 9x

rise over run. 9 units up over 1 unit right or 9/1