Question
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.
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