Someone claims that within a certain neighborhood, the average cost of a house is =$100,000 with
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Someone claims that within a certain neighborhood, the average cost of a house is
μ =$100,000 with a standard deviation of σ = $10,000. Suppose that based on n = 16 homes, you find that the average cost of a house is X¯ = $95,000.
Assuming normality, what is the probability of getting a sample mean this low or lower if the claims about the mean and standard deviation are true?
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Related Book For
Basic Statistics Understanding Conventional Methods And Modern Insights
ISBN: 9780195315103
1st Edition
Authors: Rand R. Wilcox
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