A real estate agent believes that the average closing cost purchasing a Condo is

Question

A real estate agent believes that the average closing cost purchasing a Condo is $6500 over the purchase price with a standard deviation of $120. She selects 40 new Condo sales at random and finds that average closing costs are $6600. Use the confidence-level test the real estate agent's claim at the 0.05 level of significance. A recent study claimed that more than 15% of all eighth-grade students are overweight. In a sample of 80 students, 9 were found to be overweight. At alpha = 0.05, is there enough evidence support the claim? Use p-value method. A rental agent states that the average rent for a studio apartment in Shadyside is $750. A sample of 12 renters shows that the mean is $732 and standard is $17. Is there enough evidence to reject the agent's claim? Use alpha = 0.01 and confidence interval method. A maker of frozen meals claims that the average caloric content of its meals is 800. A the researcher tested 12 meals and found that the average number of calories was 873 and the

Explanation / Answer

41.

Ho: Mu<.15
Ha: Mu>=.15

pcap = 9/80 = .1125

So, Z = (.1125-.15)/sqrt(.15*.85/80) = -.94
So, since the pvalue is .82 which is greater than .05 the null hypothesis can't be rejected and it can be concluded the claim of the recent study that more than 15% of all 8th grade students are overweight is FALSE.

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