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Please no written by hand solution and no img In a certain town a survey organization took a simple random sample of 225 homes to find the average price of a home. The sample average turned out to be $390,000. It was known that before the average price was $395,000 with an SD of $60,000. The organization was concerned that the average price has change with time.       Can you say if the difference is a real change or just a chance variation?

Please no written by hand solution and no img In a certain town a survey organization took a simple random sample of 225 homes to find the average price of a home. The sample average turned out to be $390,000. It was known that before the average price was $395,000 with an SD of $60,000. The organization was concerned that the average price has change with time.       Can you say if the difference is a real change or just a chance variation?

MATLAB: An Introduction with Applications
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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In a certain town a survey organization took a simple random sample of 225 homes to find the average price of a home. The sample average turned out to be $390,000. It was known that before the average price was $395,000 with an SD of $60,000. The organization was concerned that the average price has change with time.

 

 

 

Can you say if the difference is a real change or just a chance variation?

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