One Sample Hypothesis Testing for Research Issue
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Please hep with the following assignment:
Formulate both a numerical and verbal hypothesis statement regarding your research issue.
Verbal: The average (mean) cost of a three bedroom home is less than or equal to $250,000.
Null Hypothesis: Ho: u < $250,000
Alternate Hypothesis: Ha u > $250,000
We all know the average cost is probably more that $250K but most researchers set up the null hypothesis to be rejected.
Since three are less than 30 in the sample and the population standard deviation is unknown then we will be using the T-test. The alpha or significance level is .05.
Please see attachment with needed information.
Please cite all sources. Thank you in advance for your help.
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Solution Summary
The solution examines a one sample hypothesis testing for a research issue. The null hypothesis and parameters are determined.
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