Question: The mean advertised selling price of a home for sale in Idaho, based upon a random sample of 34 data, is $$244,685.26, and the standard deviation is $132,124.28.

a) Compare your state's sample mean to Idaho's and then make one of the following claims:

? your state has a lower average advertised selling price of homes for sale than in Idaho

? your state has a higher average advertised selling price of homes for sale than in Idaho

? your state has an average advertised selling price of homes for sale that is not appreciably different than that in Idaho.

b) Write a statement of hypotheses for your response to part a.

c) State the critical value(s) using a 0.05 level of significance.

d) Compute the test statistic.

e) Make a decision and state your conclusion in the context of the prices.