Presume that in past years the average price

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Presume that in past years the average price per square metre for warehouses has been $322.80. A national real estate investor desires to determine whether that figure has changed now. The investor appoints a researcher who randomly samples 19 warehouses that are for sale and finds that the mean price per square metre is $316,70 with a standard deviation of $12.90. If the researcher uses a 5% level of consequence what statistical conclusion can be reached? What are the hypotheses?

Reference no: EM1373625

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