(Question Below) True or False?

A bank tells a real estate agent that average closing costs on the sale of a home are $6500. The agent thinks that this is too low an estimate so she randomly selects 20 recent home sales and finds that the average closing costs are $6550 with a sample standard deviation of $120 and that the closing costs appear to be normally distributed.





The null hypothesis would be rejected at the 伪 = 0.05 level..











True





False(Question Below) True or False?
Given the following data:





渭o = 6500


n = 20


X-bar = 6550


s = 120


伪 = 0.05





The hypotheses are:


Ho: 渭 = 6500


H1: 渭 %26gt; 6500





The population variance is unknown and the sample size small. Therefore the appropriate test statistic is the t-test:





T = (X-bar - 渭o) / s/鈭歯


T = (6550 - 6500) / 120/鈭?0


T = 1.863





The critical t-value corresponding to 伪 = 0.05 and (n-1) degrees of freedom is 1.729.





Since the test statistic exceeds the critical t-value, we reject the null hypothesis.(Question Below) True or False?
Do you know what the null hypothesis is? What DO you know about this problem. don't just ask the question - you won't leran anything from that.