According to the data that the real-estate investors collected,...

Question

# According to the data that the real-estate investors collected,...

• According to the data that the real-estate investors collected, the mean individual apartment price within a 41-kilometer (about 25 miles) radius of the Central Business District of Melbourne is $453,993.94. You are going to use a hypothesis test to determine whether the true mean apartment price is higher than$453,993.94. Assume that apartment prices are normally distributed.
• The null and alternative hypotheses are as follows:
• H0: =$453,993.94 • HA: >$453,993.94
• Use your sample of n = 300 and your mean of $606,424.1667 to conduct a hypothesis test using a 5% level of significance to determine if the mean apartment price is more than$453,993.94.

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