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Mathematics, 05.05.2021 21:00 SoccerAllStar2

Toll Brothers is a luxury home builder that would like to test the hypothesis that the average size of new homes exceeds 2,400 square feet. A random sample of 36 newly constructed homes had an average of 2,510 square feet with a sample standard deviation of 480 square feet. Conduct a test of hypothesis at a 1% level of significance to see if indeed the average size of new homes exceeds 2,400 square feet. Toll Brothers would like to set α = 0.02. Use the critical value approach to test this hypothesis.

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