MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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For the questions below, consider the hprice1 data set where the current housing price average is $293000 with a standard deviation of $102100 from a survey of 88 households. According to prior data, the average housing price in this area was $270,000.
What are the hypotheses to test to see if housing prices have increased?
What is the p-value for the above test?
At α = 0.05, what is your conclusion?
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