Statistics
yjtshim_12
1) Homes in Blacktown city have a mean value of $88950. It is assumed that homes in vicinity of the city have a higher value. To test this theory, a random sample of 12 homes is chosen from the city area. Their mean valuation is $92460 and standard deviation is $5200. Complete a hypothesis test using α = 0.05. Assume prices are normally distributed.
Solve using p-value approach by using five steps model.
9 years ago
5
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