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A Realtor claims that no more than half of the homes he sells are sold for less than the asking price. When reviewing a random
A Realtor claims that no more than half of the homes he sells are sold for less than the asking price. When reviewing a random sample of15 sales over the past year, he found that actually 10 were sold below the asking price. (a) The assumption of normality isjustified. O Yes G) No (b-1) Calculate a pvalue for the observed sample outcome, using the normal distribution. (Round your z-value to 2 decimal places. Round your answer to 4 decimal places.) (b-2) At the .05 level of signicance in a right-tailed test, is the proportion of homes sold for less than the asking price greater than 50%? No 0 Yes (c) Use Excel to calculate the binomial probability P(X210 l n =15, Jr = .50) = 1 P(Xs 9| n= 15, II = .50). (Round your answer to 4 decimal places.) w
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