David claims that the average house price in Toronto is at least $1,100,000. To test his own claim, he randomly selects 50 recently-sold houses in Toronto and notes that the average sale price of these houses is $1,050,000. From other research, he knows that the standard deviation of the house price in Toronto is $200,000. Use the 7 steps and conduct a hypothesis test for David’s claim using the P-value method at the significance level of 5%.

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