A Real Estate Agency Conducts a Study to Determine If $\alpha$

question 59

Essay

A real estate agency conducts a study to determine if the median selling price of homes in a particular neighborhood has changed since last year. Last year the median selling price was $188,500. The agency randomly selects 20 recently sold homes in that particular neighborhood and finds that 14 of the homes sold for more than $188,500 and that 6 of the homes sold for less than $188,500. Use Excel to conduct the appropriate hypothesis test at $\alpha$ = .10.

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