Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You may need to use the appropriate appendix table or technology to answer this question.The median price of homes in in a certain city was

You may need to use the appropriate appendix table or technology to answer this question.The median price of homes in in a certain city was $219,640. A sample of 200 homes sold in a suburb of the city found 114 homes with sales prices over $219,640 and 86 homes with sales prices under $219,640. Can you conclude that the median price of homes in the suburb differs from the median price of homes in the entire city? Use

= 0.05.

State the null and alternative hypotheses.H0: Median > 219,640 Ha: Median = 219,640H0: Median 219,640 Ha: Median = 219,640 H0: Median 219,640 Ha: Median > 219,640H0: Median = 219,640 Ha: Median 219,640H0: Median 219,640 Ha: Median < 219,640Find the value of the test statistic. (Round your answer to two decimal places.)z = Find the p-value. (Round your answer to four decimal places.)p-value = State your conclusion.Reject H0. There is not sufficient evidence to conclude that the median price of homes in the suburb differs significantly from $219,640.Reject H0. There is sufficient evidence to conclude that the median price of homes in the suburb differs significantly from $219,640. Do not reject H0. There is sufficient evidence to conclude that the median price of homes in the suburb differs significantly from $219,640.Do not reject H0. There is not sufficient evidence to conclude that the median price of homes in the suburb differs significantly from $219,640.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Discrete Mathematics With Applications

Authors: Susanna S Epp, Robert Gatewood,

4th Edition

1133168663, 9781133168669

More Books

Students also viewed these Mathematics questions

Question

1. What does this mean for me?

Answered: 1 week ago