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(Solved): Part III: Free Response Questions. Show all work and or Calculator/Minitab Steps. Make sure to print ...



Part III: Free Response Questions. Show all work and or Calculator/Minitab Steps. Make sure to print Minitab work. Formulas must be present for full credit.

11. The mean cost for a home nationwide is reported to be $80,000 with a standard deviation equal to $9,500. To test that the mean in Omaha is less than the national mean, 35 homes for sale are randomly selected and the mean is found to be $75,000. Assuming the variability is the same locally as nationally. Test the hypothesis for this situation at the 5% level of significance.

a). What is the level of significance? State the Null and Alternate Hypothesis (2)

b) Justify what sampling distribution you will use? Compute the value of the sample test statistic. (3)

c) Find the P-value. Sketch the sampling distribution and show the area corresponding to the P-value. (3)

d) Will you reject or fail to reject the null hypothesis? Justify. (2)

e) State your conclusion about the data. (2)



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