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(Steps Shown) The average price of homes sold in the US in the past year was 220,000. A random sample of 81 homes sold this year showed an average price

Question: The average price of homes sold in the US in the past year was 220,000. A random sample of 81 homes sold this year showed an average price of 210,000. It is known that the standard deviation of the population is 36,000. At 95% confidence test to determine if there has been a significant decrease in the average homes

  1. state the null and alternative hypothesis to be tested
  2. compute the test statictic
  3. state the rejection rule
  4. state your conclusion and interpretation.

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Solution: The downloadable solution consists of 2 pages
Deliverable: Word Document


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