Business, 09.11.2019 01:31 vivian2020

The chamber of commerce of a florida gulf coast community advertises that area residential property is available at a mean cost of $125,000 or less per lot. suppose a sample of 32 properties provided a sample mean of $130,000 per lot and a sample standard deviation of $12,500. use a .05 level of significance to test the validity of the advertising claim. anderson, david r.. essentials of statistics for business and economics (p. 433). south-western college pub. kindle edition.
(a) use a 0.05 level of significance to test the validity of the advertising claim.
(b) state the hypotheses.
(c) what is the p-value?
(d) what is your conclusion (use a level of significance of 0.05?
(e) what is the interpretation of your conclusion?

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