A newspaper found the mean price for redwood city homes is

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Reference no: EM13624350

A newspaper found the mean price for Redwood City homes is $927,200. With 18 homes sold in the past month, the mean for this sample was $998,361.11 and the sample standard deviation was $282,186.83. At the 0.05 significance level, test the claim that the homes are significantly greater than $927,200.

a) State the null and alternative hypotheses.

b) State the distribution that you will use.

c) Find the test statistic and use the appropriate variable.

d) Find the p-value.

e) Reject -or- Fail to Reject?

f) State your actual conclusions in words.

g) Construct a 90% confidence interval.

Reference no: EM13624350

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