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Suppose that in past years the average price per square metre for warehouses in Canada has been $347.46. A national real estate investor wants to
Suppose that in past years the average price per square metre for warehouses in Canada has been $347.46. A national real estate investor wants to determine whether that figure has changed now. The investor hires a analyst who randomly samples 49 warehouses that are for sale across Canada and finds that the mean price per square foot is $342.81, with a standard deviation of $13.89. Assume that prices of warehouse area are normally distributed in population. If the analyst uses a 5% level of significance, what statistical conclusion can be reached? (Round your answer to 2 decimal places, e.g. 1.75.) The value of the test statistic is and we
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