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Calculate the test statistic and p-value

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Reference no: EM132488113

The housing market has recovered slowly from the economic crisis of 2008.? Recently, in one large? community, realtors randomly sampled 35 bids from potential buyers to estimate the average loss in home value. The sample showed the average loss was ?$9982 with a standard deviation of ?$1613. In? 2011, the average home in this region of the country lost ?$9485 in value. Was the community studied by the realtors? unusual? Use a? t-test to decide if the average loss observed was significantly different from the regional average with 0.05 as the? P-value cutoff level.

Calculate the test statistic and p-value.

tn-1= ___

?(Round to two decimal places as? needed.)

Reference no: EM132488113

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