A realtor in Mission Viejo, California, believes that the median price of a house is more than

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A realtor in Mission Viejo, California, believes that the median price of a house is more than $500,000.

a. Specify the competing hypotheses for the test.

b. Using the MV_Houses data, calculate the value of the test statistic. Assume the normal approximation for T.

c. Calculate the p-value.

d. At the 5% significance level, is the realtor's claim supported by the data?

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Business Statistics Communicating With Numbers

ISBN: 9780078020551

2nd Edition

Authors: Sanjiv Jaggia, Alison Kelly

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Question Posted: Dec 20, 2016 09:57 AM

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A realtor in Mission Viejo, California, believes that the median price of a house is more than

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Business Statistics Communicating With Numbers

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