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QUESTION
A real estate agent believes that the average closing cost of purchasing a new home is $6500 over the purchase price.
A real estate agent believes that the average closing cost of purchasing a new home is $6500 over the purchase price. She selects 40 new home sales at random and finds that the average closing costs are $6600. The standard deviation of the population is $120. Test her belief at µ = 0.05.
