Good evening,

Im understanding this a little more. But still need some help. I cant still dont know how to solve for the p value.

I know n = 13 x= 416, 000 o = 3810.

I believe the null hypothesis to be Ho: u < 420, 000 and Alt Hypothesis to be Ha: u > 420,000

Work through this hypothesis test using each step of hypothesis testing.

A sample of 13 homes for sale in ABC City showed a mean asking price of $416,000, but the city claimed that the mean asking price for the population was $420,000. The sample standard deviation of all homes for sale was $3,810. Use the p-value approach to conduct a full hypothesis (all steps - follow the guidance in the last problem) that can be used to determine whether the mean asking price is significantly less than $420,000 Let=. 0.05

This test is (choose 1: one-tailed / two-tailed) because the last sentence contains the words (choose 1: greater than/ less than / different from).

I will use a (choose 1: t/z) in my formula because

I have calculated the value of t (or z) to be

I have used t (or z) to get the value of p (most likely from a chart or computer printout - provide that printout).

My p value is

Alpha, which is given in the problem, is

When I compared p to alpha, p is (choose 1: greater than/less than) alpha.

Because of this, I know I should (choose 1: reject / fail to reject) my null hypothesis.

Choose one: In summary, the mean balance is different from than $420,000 / In summary, the mean balance is NOT different from $420,000.