The Eagle Ridge Contractors Association claims the average price of a home in their subdivision is $125,150 with a standard deviation of $7,350. A sample of 36 homes for sale in this subdivision had an average selling price of $123,550. The Eagle Ridge Home Owners Association is interested in knowing if the costs of homes for sale in this subdivision are actually lower than claimed? At a = 0.01, what is the z-test value? a. -1.52 b. -1.31 Oc. 1.52 d. 1.31

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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The Eagle Ridge Contractors Association claims the average price of a home in their
subdivision is $125,150 with a standard deviation of $7,350. A sample of 36 homes for
sale in this subdivision had an average selling price of $123,550. The Eagle Ridge Home
Owners Association is interested in knowing if the costs of homes for sale in this
subdivision are actually lower than claimed? At a = 0.01, what is the z-test value?
OOO0
a. -1.52
b. -1.31
O c. 1.52
Od. 1.31
Transcribed Image Text:The Eagle Ridge Contractors Association claims the average price of a home in their subdivision is $125,150 with a standard deviation of $7,350. A sample of 36 homes for sale in this subdivision had an average selling price of $123,550. The Eagle Ridge Home Owners Association is interested in knowing if the costs of homes for sale in this subdivision are actually lower than claimed? At a = 0.01, what is the z-test value? OOO0 a. -1.52 b. -1.31 O c. 1.52 Od. 1.31
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