(Use Excel) the Following Are the Prices (In $1,000s) of 20

question 50

Essay

(Use Excel) The following are the prices (in $1,000s) of 20 houses sold recently in Vancouver, Washington. A real estate agent believes that the standard deviation of house prices is less than 70 units, where each unit equals $1,000. Assume house prices are normally distributed. a. State the null and the alternative hypotheses for the test.
B) Calculate the value of the test statistic.
C) Use Excel's function (either CHISQ.DIST.RT or CHISQ.DIST) to calculate the p-value.
D) At α = 0.10, what is the conclusion? Is the agent's claim supported by the data?

---

Definitions:

Leadership Efficiency

The ability of a leader to achieve desired outcomes with minimal waste of time, effort, or resources.

Trait Approach

A perspective in leadership that suggests certain physical, social, and personal characteristics are inherent to leaders.

Significant Correlations

Statistical relationships between two variables indicating a strong association that is not likely due to chance alone.

Mediating Variables

Elements within a cause-and-effect relationship that explain the mechanism through which the independent variable affects the dependent variable.