Give the test statistic. O 1.64 0.5

MATLAB: An Introduction with Applications
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ISBN:9781119256830
Author:Amos Gilat
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Chapter1: Starting With Matlab
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Question 18: give the test statistic.
You are looking to find if the average selling price of a home in
an area is greater than $350,000. You look at 50 homes in the
area and compute the average price of the 50 homes to be
$350,000 with a standard deviation of $25,000. At the 5%
significance level we determine if the null hypothesis should be
rejected. Give the null and alternative hypotheses.
Transcribed Image Text:You are looking to find if the average selling price of a home in an area is greater than $350,000. You look at 50 homes in the area and compute the average price of the 50 homes to be $350,000 with a standard deviation of $25,000. At the 5% significance level we determine if the null hypothesis should be rejected. Give the null and alternative hypotheses.
Give the test statistic.
1.64
0.5
-1.64
Transcribed Image Text:Give the test statistic. 1.64 0.5 -1.64
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