Question

In: Statistics and Probability

The Bear Contractors Association claims the average price ( μ ) of a home in their...

The Bear Contractors Association claims the average price ( μ ) of a home in their subdivision is $175,500.The alernative hypothesis to test the claim is H ₁ : μ ≠175,500 . A sample of 36 homes for sale in this subdivision had an average selling price of $183,550 with a sample standard deviation of $12,350. Calculate the test statistic.

Expert Solution

Solution :

= 175500

=183550

S =183550

n = 36

This is the two tailed test .

The null and alternative hypothesis is ,

H0 : = 175500

Ha : 175,500

Test statistic = t

= ( - ) / S / n

= (183550-175500) / 12,350 / 36

= 3.911

Test statistic = t = 3.911

orchestra answered 2 years ago

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