The data accompanying this exercise show the selling price (in $1,000s) for 36 recent house sales in Mission Viejo, California. A Realtor believes that the average price of a house is more than $500,000. Assume the population standard deviation is $100 (in $1,000s). Click here for the Excel Data File

a.Select the null and the alternative hypotheses for the test.

multiple choice 1

• H₀:= 500,000;H_A: 500,000
• H₀: 500,000;H_A:> 500,000
• H₀: 500,000;H_A:< 500,000

b-1.What is the value of the test statistic?(Round final answer to 2 decimal places.) b-2.Find thep-value. multiple choice 2

• p-value 0.01
• 0.01 <p-value 0.025
• 0.025 <p-value 0.05
• 0.05 <p-value 0.10
• p-value > 0.10

c.At= 0.05, what is the conclusion? multiple choice 3

• RejectH₀; realtor's claim is supported by the data.
• RejectH₀; realtor's claim is not supported by the data.
• Do not rejectH₀; realtor's claim is supported by the data.
• Do not rejectH₀; realtor's claim is not supported by the data.