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The eagle ridge contractors association states the average price of a home in their subdivision is $125,150 with a standard deviation of $7,350.
The eagle ridge contractors association states the average price of a home in their subdivision is $125,150 with a standard deviation of $7,350. A sample of 36 homes for sale in this subdivision had an average selling price of $123,550. The eagle ridge home owners association is interested in knowing if the costs of homes for sale in this subdivision are actually lower than stated. State the null and alternative hypotheses. What is the claim? Compute the critical value for a=0.05, compute the test value. Is there sufficient evidence to support he claim?
