The Realtor for an Exclusive,planned Housing Development Says That House $\sigma ^ { 2 } > 64$

question 108

Essay

The realtor for an exclusive,planned housing development says that house prices average $125 thousand and uniformity of prices within the development is indicated by the standard deviation of $ $\sigma ^ { 2 } > 64$ 8 thousand.A prospective buyer wants to check on the uniformity of prices and randomly samples 12 houses and determines the selling price.These data are: 113.0,126.2,134.4,129.4,106.6,117.4,123.5,121.0,109.6,119.4,126.6,and 119.6.Use these data to test the hypothesis:
H₀: $\sigma ^ { 2 } \leq 64$ (realtor correct)
H₁: (realtor incorrect)
The buyer assumes selling prices are normally distributed and employs a 0.05 significance level.Is the statement by the realtor correct?
Test statistic = ____________________
Critical Value = ____________________
Conclusion: _____________________
Interpretation: _____________________________________

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Definitions:

Contemporary Aestheticians

Scholars and thinkers who explore the nature of beauty, art, and taste in the context and challenges of the modern world.

Philosophical Doubts

Skeptical questioning or the critical examination of the foundational assumptions and principles in philosophy.

Order and Meaning

The human quest or drive to find structure, purpose, and significance in one's life and the universe at large.

Transcendent Form

A concept in philosophy that refers to idealized, perfect examples of various properties or entities, which exist beyond our physical and perceptual limitations.