The average house price in a country in 2010 was $339,100, according to a real estate organization. Today, a consumer group randomly selected a sample of 35 house prices and found an average price of $421,320 with a standard deviation of $93,200. The group put out a press release saying "House prices have gone up by over 20% compared with 2010." Test this claim using a 95% level of confidence.
The average house price in a country in 2010 was $339,100, according to a real estate organization. Today, a consumer group randomly selected a sample of 35 house prices and found an average price of $421,320 with a standard deviation of $93,200. The group put out a press release saying "House prices have gone up by over 20% compared with 2010." Test this claim using a 95% level of confidence.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 3GP
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The average house price in a country in 2010 was $339,100, according to a real estate organization. Today, a consumer group randomly selected a sample of 35 house prices and found an average price of $421,320 with a standard deviation of $93,200. The group put out a press release saying "House prices have gone up by over 20% compared with 2010." Test this claim using a 95% level of confidence.
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