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Sydney house prices are rising rapidly and many believe that the average house price in Sydney is above $1,000,000. Phuc used a sample of 1000 recent property sales in Sydney to test the claim. He found that the sample mean price was $1,060,000 and the t-statistic was 1.05. a) (round your answer to 2 decimal places) b) fis d) The standard error of the sample mean house price must be The null hypothesis Ho is: Using 5% significance level, you can conclude that c) The p-value associated with the test is (leave your answer in decimals, rounded to 4 decimal places) distributed. + 1,000,000 For the test result to be valid, Phuc needs to assume that Sydney house prices are normally

Sydney house prices are rising rapidly and many believe that the average house price in Sydney is above $1,000,000. Phuc used a sample of 1000 recent property sales in Sydney to test the claim. He found that the sample mean price was $1,060,000 and the t-statistic was 1.05. a) (round your answer to 2 decimal places) b) fis d) The standard error of the sample mean house price must be The null hypothesis Ho is: Using 5% significance level, you can conclude that c) The p-value associated with the test is (leave your answer in decimals, rounded to 4 decimal places) distributed. + 1,000,000 For the test result to be valid, Phuc needs to assume that Sydney house prices are normally

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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Sydney house prices are rising rapidly and many believe that the average house price in Sydney is above $1,000,000. Phuc used a sample of 1000 recent property sales in Sydney to test the claim. He found that the sample mean price was $1,060,000 and the t-statistic was 1.05. a) (round your answer to 2 decimal places) b) is The standard error of the sample mean house price must be d) distributed. The null hypothesis Ho is: Using 5% significance level, you can conclude that c) The p-value associated with the test is (leave your answer in decimals, rounded to 4 decimal places) + 1,000,000 For the test result to be valid, Phuc needs to assume that Sydney house prices are normally
Transcribed Image Text:Sydney house prices are rising rapidly and many believe that the average house price in Sydney is above $1,000,000. Phuc used a sample of 1000 recent property sales in Sydney to test the claim. He found that the sample mean price was $1,060,000 and the t-statistic was 1.05. a) (round your answer to 2 decimal places) b) is The standard error of the sample mean house price must be d) distributed. The null hypothesis Ho is: Using 5% significance level, you can conclude that c) The p-value associated with the test is (leave your answer in decimals, rounded to 4 decimal places) + 1,000,000 For the test result to be valid, Phuc needs to assume that Sydney house prices are normally
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