Question
he National Association of Realtors reported that the mean selling price for homes in one city was $116,800. The city housing department feels that this
he National Association of Realtors reported that the mean selling price for homes in one city was $116,800. The city housing department feels that this figure is too low. They randomly select 91 home sales and obtained a mean selling price of $117,900 and a standard deviation of $3,700. Test the claim that the mean selling price in the area is more than $116,800 using a level of significance of 2%.
Enter the Null Hypothesis for this test:H0:
Enter the Alternative Hypothesis for this test:H1:
Is the original claim in the Null Hypothesis (H0) or the Alternative Hypothesis (H1)? Answer using either H0 or H1.
What is the p-value for this hypothesis test? Round your answer to four decimal places.
What is the decision based on the given sample statistics?
What is the correct interpretation of the decision?
There_______enough evidence to________the claim that the mean selling price in the area is more than $116,800.
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