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The average price of homes sold in the U.S. in the past year was $220,000. A...

The average price of homes sold in the U.S. in the past year was $220,000. A random sample of 81 homes sold this year showed an average price of $210,000. It is known that the standard deviation of the population is $36,000. At 95% confidence test to determine if there has been a significant decrease in the average price homes.

a.State the null and alternative hypotheses to be tested.

b.Compute the test statistic.

c.Compute the p-value.

d.What do you conclude?

math   Statistics-And-Probability   
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