Question

Refer to the Real Estate data, which report information on the homes sold in Goodyear, Arizona, last year.

a. A recent article in the Arizona Republic indicated that the mean selling price of the homes in the area is more than $220,000. Can we conclude that the mean selling price in the Goodyear, AZ, area is more than $220,000? Use the .01 significance level. What is the p-value?

b. The same article reported the mean size was more than 2,100 square feet. Can we conclude that the mean size of homes sold in the Goodyear, AZ, area is more than 2,100 square feet? Use the .01 significance level. What is the p-value?

2:49 PM Thu Apr 25 e, @ 91% Goodyear_Arizona.xls rice Bedroos SineeDistaae Tuwhip Carage Bath 15 2514

Answer 1

ven dato aj n=105 mean (H) 20 ypothesis: th : 시 220 By taking Decition Rule Significance d-o.01 Critical z cove= 2.3263 Reject Ho if 2-3463 List statistic SF 4. 459子

SE .597 p. Dectsion (am terms the hypathekis) Sime 0-a39 < 2.3463 Ne fail to Yeject Hu 0.4055 No, cat conclude that the mean Selli lung price u moye than RRDo00 กา= 105 S48.66 X 2224 Hypothesis Decisio Rule: Reject Hokfス>2-3263