Question: Refer to the Real Estate data, which reports information on the homes sold in Denver, Colorado, last year.

a. A recent article in the Denver Post 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 Denver area is more than $220,000? Use the .01 significance level. What is the p-value?

b. Determine the proportion of homes that have a pool. At the .05 significance level, can we conclude that less than 40 percent of the homes sold in the Denver area had a pool? What is the p-value?