Use the Following to Answer Questions

question 57

Multiple Choice

Use the following to answer questions :
The Eagle Ridge Contractors Association claims the average price of a home in their subdivision is $125,150 with a standard deviation of $7,350. A sample of 36 homes for sale in this subdivision had an average selling price of $123,550. The Eagle Ridge Home Owners Association is interested in knowing if the costs of homes for sale in this subdivision are actually lower than claimed?
-What is the p-value for this left-tailed test?

• A) 0.0853
• B) 0.0951
• C) 0.1327
• D) 0.0036

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Definitions:

Canadian Dollars

The currency of Canada, represented by the symbol CAD or C$.

US Dollars

The official currency of the United States, widely used in international transactions and considered a major reserve currency.

Exchange Rates

The value of one currency for the purpose of conversion to another.

Currency Exchange

The process of converting one currency into another, commonly associated with international trade and travel.