An investor wants to know if the average value of property is greater than PKR 75000/=. He made a sample of different values of that property from different estate agents. Accordingly, the provided property values are PKR 92000/=, PKR 97000/=, PKR 75000, PKR 88000/=, PKR 83000/= and PKR 95000/=. Can the investor have 95 percent confidence that the mean value for the property on the test would be different from PKR 75000/=?

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
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Question: An investor wants to know if the average value of property is greater than PKR 75000/=. He made a sample of different values of that property from different estate agents. Accordingly, the provided property values are PKR 92000/=, PKR 97000/=, PKR 75000, PKR 88000/=, PKR 83000/= and PKR 95000/=. Can the investor have 95 percent confidence that the mean value for the property on the test would be different from PKR 75000/=?

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