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Julia S.

asked • 05/30/20

Statistics Question Data from the National Association of Realtors

Data from the National Association of Realtors indicates that the mean price of a home in Denver, Colorado, during April through June of 2012 was 260.7 thousand dollars. A random sample of 50 homes sold this year had a mean price of 290.5 thousand dollars. Assume the population standard deviation is 150. Can you conclude that the mean price this year differs from the mean price this year differs from the mean price in April through June of 2012? Use the 0.05 level of significance.

a) State the hypothesis

b) Critical Value 𝑡 or Z

c) Test 𝑡 or z

d) Decision:

e) Conclusion

1 Expert Answer

By:

Paige M. answered • 05/31/20

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College freshman tutor with experience in advanced mathematics

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