(Steps Shown) It is claimed that the average purchase price of property in the UK is £34,000. Test this claim, using a 5% significance level, if, for 100 recent
Question: It is claimed that the average purchase price of property in the UK is £34,000. Test this claim, using a 5% significance level, if, for 100 recent purchases, the prices had a mean of £33,280 with an SD of £13,800. (3 marks)
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