Data from the National Association of Realtors indicates that mean price of a home in Denver, Colorado, in the first three months of 2018 was $255,300. We can write this as 255.3 with units of thousands of dollars for our calculations. A random sample of 60 homes sold in 2020 had a mean price of 235 (thousand dollars). Assume the standard deviation s = 140 (thousand dollars). Can we conclude that the mean price in 2020 differs from the mean price in the first 3 months of 2018? Use the α = 0.05 level of significance.
Data from the National Association of Realtors indicates that mean price of a home in Denver,
Colorado, in the first three months of 2018 was $255,300. We can write this as 255.3 with units
of thousands of dollars for our calculations. A random sample of 60 homes sold in 2020 had a
mean price of 235 (thousand dollars). Assume the standard deviation s = 140 (thousand dollars).
Can we conclude that the mean price in 2020 differs from the mean price in the first 3 months of
2018? Use the α = 0.05 level of significance.
Parameter_____________________________________________________________________
Null hypothesis ____________________________________
Alternative hypothesis ________________________________________
This test is: One-sided Two-sided
Test statistic
p-value
Circle a decision: Reject H0 Do not reject H0
Conclusion: At the 0.05 level of significance, we ___________________ have sufficient evidence
to say that________________________
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