(Use Excel) A realtor in Mission Viejo, California, believes that the average price of a house is...
Question:
(Use Excel) A realtor in Mission Viejo, California, believes that the average price of a house is more than $500 thousand.
a. State the null and the alternative hypotheses for the test.
b. Open the Mission Viejo (raw ) data from the text website into an Excel spreadsheet (data are in $1,000s). Use the function Z.TEST to calculate the p -value. Assume the population standard deviation is $100 (in $1,000s).
c. At α = 0.05 what is the conclusion? Is the realtor's claim supported by the data?
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Kirti Kaushal
Having experience of more than 10 years is good enough to coach my students. Currently, I am working as an active supervisor of ACCA students. In my career, I helped students in financial accounting, management accounting, cost accounting, financial reporting, taxation, and audit. I also helped students publish their articles or papers in good journals. I also helped students with thesis and objective writing.
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Related Book For 
Business Statistics Communicating With Numbers
ISBN: 9780071317610
1st Edition
Authors: Kelly Jaggia
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