How to test the investors concern at level of significance

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Suppose that in past years the average price per square foot for warehouses in the U.S. has been $32.28. A real estate investor wants to determine if that figure has changed. A sample of 48 warehouses that are for sale across the U.S. is taken, and the mean price per square foot is $31.67, with a sample standard deviation of $1.29. Test the investor's concern at a 5% level of significance. What is your conclusion?

Reference no: EM13242846

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How to test the investors concern at level of significance : A sample of 48 warehouses that are for sale across the U.S. is taken, and the mean price per square foot is $31.67, with a sample standard deviation of $1.29. Test the investor's concern at a 5% level of significance.

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