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 farms sold recently revealed that the mean selling time was 92 days, with a standard deviation of 22 days. At the .10 significance level, has there been an increase in selling time?
InstructionsState the Ho and H1Find the p-valueState your conclusion: (a) Reject Ho and accept H1 or (b) cannot reject Ho at the desired level of significance.Submit software output to support your answers.
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