A statewide real estate agency farm associates specializes

Reference no: EM13627559

A statewide real estate agency, Farm Associates, specializes in selling farm property in the state of Nebraska. Its records indicate that the mean selling time of farm property is 90 days. Because of recent drought conditions, the agency believes that the mean selling time is now greater than 90 days. A statewide survey of 100 farms sold recently revealed that the mean selling time was 94 days, with a standard deviation of 22 days. At the .10 significance level, has there been an increase in the selling time? Please show all your steps in deriving the final answer.

Reference no: EM13627559

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