Problem 8: Suppose that in past years the average purchase price per square foot for warehouse space in the United States has been $32.28. A national real estate investor wants to determine whether that figure has changed. The investor hires a researcher who randomly samples 19 warehouses that are for sale across the United States and finds that the mean is $32.73. The population standard deviation is $1.29. Can the researcher conclude that the average purchase price per square foot has changed? Test at the 90% confidence level.
Problem 8: Suppose that in past years the average purchase price per square foot for warehouse space in the United States has been $32.28. A national real estate investor wants to determine whether that figure has changed. The investor hires a researcher who randomly samples 19 warehouses that are for sale across the United States and finds that the mean is $32.73. The population standard deviation is $1.29. Can the researcher conclude that the average purchase price per square foot has changed? Test at the 90% confidence level.
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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