document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1117390>Question 1117390</A>: <I><SPAN STYLE=\"word-break: break-all;\"> 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.  Is there evidence that the costs of homes for sale in this subdivision are actually lower than claimed?\r<BR>\n" );
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document.write( "What is the p-value for a one-sided test of the data provided above? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #732463 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=732463\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 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.  Is there evidence that the costs of homes for sale in this subdivision are actually lower than claimed?<BR>\n" );
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document.write( "x-bar = 123550<BR>\n" );
document.write( "z(x-bar) = (123550-125150)/[7,350/sqrt(36)] = -1600*6/7350 = -1.306 \r<BR>\n" );
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document.write( "What is the p-value for a one-sided test of the data provided above?<BR>\n" );
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document.write( "p-value = p(z < -1.306) = normalcdf(-100,-1.306) = 0.0958<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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