Question
A real estate sales agency specializes in selling vacation property. Its records indicate that the mean selling time of vacation property is 75 days. However,
A real estate sales agency specializes in selling vacation property. Its records indicate that the mean selling time of vacation property is 75 days. However, it believes that because of the recent hurricanes, the mean selling time is now greater than 75 days. A survey of 100 properties sold recently revealed that the mean selling time was 79 days, with a standard deviation of 20 days.
ONLY NEED a) ANSWERED
At the 0.05 significance level, has there been an increase in selling time?
a.What is the decision rule?(Round the final answer to 3 decimal places.)
RejectH0: 75 and acceptH1: > 75when the test statistic isgreater than
_________.
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Introduction to graph theory
Authors: Douglas B. West
2nd edition
131437372, 978-0131437371
