A researcher wants to test if the mean price of houses in an area is greater than $145,000. A random sample of 35 houses selected from the area produces a mean price of $149,700. Assume that O=$13,100, and that the test is to be made at the 1% significance level. a. What is the critical value of z? A) 1.88 B) 2.17 C) 1.96 D) 2.58 b. What is the value of the test statistic, z, rounded to three decimal places? c. What is the p-value for this hypothesis test, rounded to four decimal places? d. Should you reject or fail to reject the null hypothesis in this test? (State your answer as "reject" or "fail to reject", but don't include the quotation marks.)

A researcher wants to test if the mean price of houses in an area is greater than $145,000. A random sample of 35 houses selected from the area produces a mean price of $149,700. Assume that O=$13,100, and that the test is to be made at the 1% significance level. a. What is the critical value of z? A) 1.88 B) 2.17 C) 1.96 D) 2.58 b. What is the value of the test statistic, z, rounded to three decimal places? c. What is the p-value for this hypothesis test, rounded to four decimal places? d. Should you reject or fail to reject the null hypothesis in this test? (State your answer as "reject" or "fail to reject", but don't include the quotation marks.)

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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