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A recent publication states that the average closing cost for purchasing a new home is $7698. A real estate agent believes that the average closing cost is different than $7698. She selects 44 new home purchases and finds that the average closing costs are $7404. The population standard deviation of $428. Help her decide if she is correct by testing her claim at æ=0.10. The correct hypotheses would be: Ο Η: μ < $7698 HA:H > $7698 (claim) Ο Η: μ > $7698 HA:µ < $7698 (claim) Ο Η: μ $7698 HA:µ + $7698 (claim) Since the level of significance is 0.10 the critical value is 1.645 and -1.645 The test statistic is: (round to 3 places) The p-value is: (round to 3 places)

A recent publication states that the average closing cost for purchasing a new home is $7698. A real estate agent believes that the average closing cost is different than $7698. She selects 44 new home purchases and finds that the average closing costs are $7404. The population standard deviation of $428. Help her decide if she is correct by testing her claim at æ=0.10. The correct hypotheses would be: Ο Η: μ < $7698 HA:H > $7698 (claim) Ο Η: μ > $7698 HA:µ < $7698 (claim) Ο Η: μ $7698 HA:µ + $7698 (claim) Since the level of significance is 0.10 the critical value is 1.645 and -1.645 The test statistic is: (round to 3 places) The p-value is: (round to 3 places)

MATLAB: An Introduction with Applications
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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The decision can be made to: O reject Ho O do not reject Ho The final conclusion is that: O There is enough evidence to reject the claim that the average closing cost is different than $7698. There is not enough evidence to reject the claim that the average closing cost is different than $7698. O There is enough evidence to support the claim that the average closing cost is different than $7698. O There is not enough evidence to support the claim that the average closing cost is different than $7698.
Transcribed Image Text:The decision can be made to: O reject Ho O do not reject Ho The final conclusion is that: O There is enough evidence to reject the claim that the average closing cost is different than $7698. There is not enough evidence to reject the claim that the average closing cost is different than $7698. O There is enough evidence to support the claim that the average closing cost is different than $7698. O There is not enough evidence to support the claim that the average closing cost is different than $7698.
A recent publication states that the average closing cost for purchasing a new home is $7698. A real estate agent believes that the average closing cost is different than $7698. She selects 44 new home purchases and finds that the average closing costs are $7404. The population standard deviation of $428. Help her decide if she is correct by testing her claim at a=0.10. The correct hypotheses would be: O Ho:µ < $7698 HA:µ > $7698 (claim) O Ho: µ > $7698 HA:µ < $7698 (claim) O Ho: µ = $7698 HA:µ + $7698 (claim) Since the level of significance is 0.10 the critical value is 1.645 and -1.645 The test statistic is: (round to 3 places) The p-value is: |(round to 3 places)
Transcribed Image Text:A recent publication states that the average closing cost for purchasing a new home is $7698. A real estate agent believes that the average closing cost is different than $7698. She selects 44 new home purchases and finds that the average closing costs are $7404. The population standard deviation of $428. Help her decide if she is correct by testing her claim at a=0.10. The correct hypotheses would be: O Ho:µ < $7698 HA:µ > $7698 (claim) O Ho: µ > $7698 HA:µ < $7698 (claim) O Ho: µ = $7698 HA:µ + $7698 (claim) Since the level of significance is 0.10 the critical value is 1.645 and -1.645 The test statistic is: (round to 3 places) The p-value is: |(round to 3 places)
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