Question: A large home builder wants to improve its cost estimation procedure. They take a sample of 57 recently completed projects and find that on average the actual costs were $1160 more than the estimated costs. The standard deviation of the sample is $4350.

1. Set up the appropriate null and alternative hypotheses for this test.
2. Does the data support a change in the procedure?

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Solution: The downloadable solution consists of 1 pages
Deliverable: Word Document