A recent publication states that the average closing cost for purchasing a new home is $7595. A real estateagent believes the average closing cost is more than $7595. She selects 18 new home purchases and findsthat the average closing costs are $7042 with a standard deviation of $357. Help her decide if she is correctby testing her claim at a=0.10.The correct hypotheses would be:Ο Η : μ < $7595HA:µ > $7595 (claim)O Ho: µ > $7595HA:µ < $7595 (claim)Ο Η : μ = $7595HA:µ + $7595 (claim)Since the level of significance is 0.10 the critical value is 1.333The test statistic is:(round to 3 places)The p-value is:(round to 3 places)The decision can be made to:O reject HoO do not reject HọThe final conclusion is that:O There is enough evidence to reject the claim that the average closing cost is more than $7595.O There is not enough evidence to reject the claim that the average closing cost is more than $7595.There is enough evidence to support the claim that the average closing cost is more than $7595.O There is not enough evidence to support the claim that the average closing cost is more than $7595.

Name: A recent publication states that the average closing cost for purchas
Uploaded: 2024-03-20T07:07:12.000Z
Channel: Bartleby
Description: A recent publication states that the average closing cost for purchasing a new home is $7595. A real estateagent believes the average closing cost is more than $7595. She selects 18 new home purchases and findsthat the average closing costs are $704