A recent publication states that the average closing cost for purchasing a new home is $7383. A real estate agent believes that the average closing cost is more than $7383. She selects 31 new home purchases and finds that the average closing costs are $7744. The population standard deviation of $466. Help her decide if she is correct by testing her claim at a=0.05. The correct hypotheses would be: © Ho:μ < $7383 HA: Ο Ho:μ > $7383 HA: Ο $7383 (claim) $7383 (claim) Ho: μ = $7383 Ηo: HA: The p-value is: $7383 (claim) Since the level of significance is 0.05 the critical value is 1.645 (round to 3 places) The test statistic is: (round to 3 places)
A recent publication states that the average closing cost for purchasing a new home is $7383. A real estate agent believes that the average closing cost is more than $7383. She selects 31 new home purchases and finds that the average closing costs are $7744. The population standard deviation of $466. Help her decide if she is correct by testing her claim at a=0.05. The correct hypotheses would be: © Ho:μ < $7383 HA: Ο Ho:μ > $7383 HA: Ο $7383 (claim) $7383 (claim) Ho: μ = $7383 Ηo: HA: The p-value is: $7383 (claim) Since the level of significance is 0.05 the critical value is 1.645 (round to 3 places) The test statistic is: (round to 3 places)
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Transcribed Image Text:A recent publication states that the average closing cost for purchasing a new home is $7383. A real estate
agent believes that the average closing cost is more than $7383. She selects 31 new home purchases and
finds that the average closing costs are $7744. The population standard deviation of $466. Help her decide
if she is correct by testing her claim at a=0.05.
The correct hypotheses would be:
© Ho:μ < $7383
HA:
$7383 (claim)
Ο Ho: μ > $7383
HA:
$7383 (claim)
Ο Ho: μ = $7383
HA:
The p-value is:
$7383 (claim)
Since the level of significance is 0.05 the critical value is 1.645
(round to 3 places)
The test statistic is:
(round to 3 places)
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