Suppose that in past years the average price per square foot for warehouses in Canada has been $347.46. A national real estate investor wants to determine whether that figure has changed now. The investor hires a analyst who randomly samples 48 warehouses that are for sale across Canada and finds that the mean price per square foot is $341.86, with a standard deviation of $13.89. Assume that prices of warehouse area are normally distributed in population. If the analyst uses a 5% level of significance, what statistical conclusion can be reached? (Round your answer to 2 decimal places, e.g. 1.75.)
Suppose that in past years the average price per square foot for warehouses in Canada has been $347.46. A national real estate investor wants to determine whether that figure has changed now. The investor hires a analyst who randomly samples 48 warehouses that are for sale across Canada and finds that the mean price per square foot is $341.86, with a standard deviation of $13.89. Assume that prices of warehouse area are normally distributed in population. If the analyst uses a 5% level of significance, what statistical conclusion can be reached? (Round your answer to 2 decimal places, e.g. 1.75.)
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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Transcribed Image Text:Suppose that in past years the average price per square foot for warehouses in Canada has been
$347.46. A national real estate investor wants to determine whether that figure has changed now.
The investor hires a analyst who randomly samples 48 warehouses that are for sale across Canada
and finds that the mean price per square foot is $341.86, with a standard deviation of $13.89.
Assume that prices of warehouse area are normally distributed in population. If the analyst uses a
5% level of significance, what statistical conclusion can be reached? (Round your answer to 2
decimal places, e.g. 1.75.)
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