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PEi real estate company believes that their average house price in 2019 of $280,000 is higher...

PEi real estate company believes that their average house price in 2019 of $280,000 is higher than the mean price of all houses sold in 2018 of $260,000. assumming that their estimate was based on the first 50 sales in 2019 and the population standard deviation of $75,000, test this hypothesis at the 90% confidence interval.

a)state the hypotheses base on a one-tailed test

b)what is the level of significance? sketch this on a normal distribution grapg.

c)select a test statistic.

d)formulate the decision?

f)interpret this result.

g)does your conclusion change if the 95% confidence interval is selected? explain

Math   Statistics-And-Probability   
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