Question
A statewide real estate sales agency, Farm Associates, specializes in selling farm property in the state of Nebraska. Its records indicate that the mean selling
A statewide real estate sales agency, Farm Associates, specializes in selling farm property in the state of Nebraska. Its records indicate that the mean selling time of farm property is 90 days. Because of recent drought conditions, the agency believes that the mean selling time is now greater than 90 days. A statewide survey of 100 recently sold farms revealed a mean selling time of 94 days, with a standard deviation of 22 days.
At the 0.10 significance level, has there been an increase in selling time?
a.What is the decision rule?(Round your answer to 3 decimal places.)
Follow this format: Reject H0: is less than or equal to 90 and fail to reject H1: is greater than 90 when the test statistic is greater than _____________ (what number? round that number to THREE DECIMAL PLACES)
thank you so much!!!
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