A sample of 150 homes for sale in ABC City showed a mean asking price of $233,000, but the city claimed that the mean asking price for the population was $255,000. The population standard deviation of...


A sample of 150 homes for sale in ABC City showed a mean asking price of $233,000, but the city claimed that the mean asking price for the population was $255,000.  The population standard deviation of all homes for sale was $11,000.  Use the p-value approach to conduct a full hypothesis test (all steps) that can be used to determine whether the mean asking price is significantly less than $255,000.   Let α = .10.



Jun 03, 2022
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