use the correct formulae and use .90 coefficient if needed.

AutoSave OFF MAT10251 Special Exam Resit Exam Study Period 4 2020 Online - Saved to my Mac Home Insert Draw Design Layout References Mailings Review View Tell me Share Comments Calibri * 12 A" A Aa Ap AaBbCcDdE AaBbCCD AaBbCcDdl AaBbCcDdl AaBbCcDdEt AaBb Paste B Emphasis Heading 1 Normal Strong Subtitle Title Styles Dictate Sensitivity Pane Questions 1 to 3 refer to the following data Safe-As-Houses, a real estate company, is exploring property prices on the Gold Coast The table below gives the price of a random sample of four bedroom houses for sale on the Gold Coast $429,000 $448,000 $449,000 $485,000 $499,000 $499,000 $516,000 $539,000 $539,000 $540,000 $550,000 $559,000 $585,000 $585,000 $585,000 $599,000 $599,000 $620,000 $629,000 $639,000 $689,000 $689,000 Sort 1000 $729,000 $749,000 $750,000 $769,000 $775,000 $835,000 $835,000 $899,000 $899,000 $925,000 $975,000 $989,000 $1,200,000 Data obtained from www.realestate.com.au January 2020. With corresponding histogram 12 Four Bedroom Houses for Sale Gold Coast 10 Frequency N $350,000 ,00 ,000 ,00 ,000 0,000 $450,00 $550,00 $650,000 $1,250,000 $75 $1,0 $1,1 Price Question 1 next page. Page 3 of 27 986 words English (United States) Focus E + 121%AutoSave OFF MAT10251 Special Exam Resit Exam Study Period 4 2020 Online - Saved to my Mac Home Insert Draw Design Layout References Mailings Review View Tell me Share Comments Calibri * 12 A" A Aa Ap AaBbCcDdE AaBbCCD AaBbCcDdi AaBbCcDdl AaBbCcDdEt AaBb Paste B I UvX X A LA . EEEE| | Sort Emphasis Heading 1 Normal Strong Subtitle Title Styles Dictate Sensitivity Pane Question 2 (14 marks) A report claims that the Gold Coast is unaffordable for young families since less than 50% of four bedroom houses for sale are less than $600,000. Explore this claim by (a) Calculating the proportion of four bedroom houses for sale in the sample with a price less than $600,000 (b) Using the sample proportion calculated in Part (a), appropriate hypotheses and the critical value approach, including calculating the test statistic, to test if less than 50% of four bedroom houses for sale on the Gold Coast are less than $600,000 Use a 10% level of significance. Clearly state any assumption/s required or why no assumptions are required. (c) Is the report's claim correct? Justify using the conclusion to Part (b). Solution Question 2 Page 4 of 27 986 words English (United States) Focus E + 121%