Bob and Deb (no relation to your author) would like to retire someday and are considering relocating to cities where universities are present. Housing prices are a key factor in the decision. Bob, who happens to know a few things about statistics, would like to determine if the median selling price of a home in Columbia, South Carolina, is less than $150,000. The selling price of a random sample of 40 homes in Columbia was collected and the data are as follows.

Selling Price Number of Homes Below $150,000 23 Equal to $150,000 2 Above $150,000 15 Using a = 0.10, perform a hypothesis test to determine if the median selling price is less than $150,000 for homes in Columbia, South Carolina.

AppendixLO1