A Local Real Estate Agent Claims That the Median Selling

question 13

Multiple Choice

A local real estate agent claims that the median selling price of homes in a major midwestern city is more than $200,000. Suppose a random sample of 100 homes sold in the last six months is taken and 53 sold for over $200,000. Using α = .01, test the real estate agent's claim. What do you conclude about the selling prices of the homes?

• A) Reject the null hypothesis.
• B) Do not reject the null hypothesis.

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Definitions:

Making A Referral

Making a referral involves directing someone to another professional, service, or agency better suited to address their specific needs, issues, or condition.

Competence

The ability of an individual to do a job properly, encompassing both skillset and knowledge.

Value-Based Conflicts

Occurs when differing beliefs and values lead to disagreements or challenges between individuals or groups.

Societal Stereotyping

Oversimplified or generalized beliefs about a group of people that ignore individual differences and complexities.