A Realtor claims that no more than half of the homes he sells are sold for less than the asking price. When reviewing a random sample of 17 sales over the past year, he found that actually 10 were sold below the asking price. (a) The assumption of normality is justified. multiple choice 1YesNo (b-1) Calculate a p-value for the observed sample outcome, using the normal distribution. (Round your z-value to 2 decimal places. Round your answer to 4 decimal places.) (b-2) At the .05 level of significance, is the proportion of homes sold for less than the asking price greater than 50%? multiple choice 2NoYes A Realtor claims that no more than half of the homes he sells are sold for less than the askingprice. When reviewing a random sample of 17 sales over the past year, he found that actually10 were sold below the asking price.(a) The assumption of normality is justified.O YesO No(b-1) Calculate a p-value for the observed sample outcome, using the normal distribution.(Round your z-value to 2 decimal places. Round your answer to 4 decimal places.)p-value(b-2) At the .05 level of significance, is the proportion of homes sold for less than the askingprice greater than 50%?O NoO Yes

Introduction: In order to satisfy the assumption of normality of the distribution of the sample…

Answered: A Realtor claims that no more than half…

MATLAB: An Introduction with Applications

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ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

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A Realtor claims that no more than half of the homes he sells are sold for less than the asking price. When reviewing a random sample of 17 sales over the past year, he found that actually 10 were sold below the asking price.

(a) The assumption of normality is justified.

multiple choice 1

(b-1) Calculate a p-value for the observed sample outcome, using the normal distribution. (Round your z-value to 2 decimal places. Round your answer to 4 decimal places.)

(b-2) At the .05 level of significance, is the proportion of homes sold for less than the asking price greater than 50%?

multiple choice 2

A Realtor claims that no more than half of the homes he sells are sold for less than the asking
price. When reviewing a random sample of 17 sales over the past year, he found that actually
10 were sold below the asking price.
(a) The assumption of normality is justified.
O Yes
O No
(b-1) Calculate a p-value for the observed sample outcome, using the normal distribution.
(Round your z-value to 2 decimal places. Round your answer to 4 decimal places.)
p-value
(b-2) At the .05 level of significance, is the proportion of homes sold for less than the asking
price greater than 50%?
O No
O Yes

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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