Mathematics, 04.05.2021 16:40 Strudl8920
The Eagle Ridge Contractors Association claims the average price of a home in their subdivision 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. The Eagle Ridge Home Owners Association is interested in knowing if the costs of homes for sale in this subdivision are actually lower than claimed. Let α = 0.02.
a. State the hypothesis and identify the claim.
b. Find the critical value(s).
c. Find the test value
d. Find the p-value
e. Make the decision.
f. Summarize the results.
Answers: 3
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The Eagle Ridge Contractors Association claims the average price of a home in their subdivision is $...
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