question archive The housing market has recovered slowly from the economic crisis of 2008
The housing market has recovered slowly from the economic crisis of 2008
Subject:StatisticsPrice: Bought3
The housing market has recovered slowly from the economic crisis of 2008.Recently, in one largecommunity, realtors randomly sampled41bids from potential buyers to estimate the average loss in home value. The sample showed the average loss was$9039with a standard deviation of$1832.In2011, the average home in this region of the country lost$8393in value. Was the community studied by the realtorsunusual? Use at-test to decide if the average loss observed was significantly different from the regional average with 0.05 as theP-value cutoff level.Calculate the test statcalculate the p valuePlease explain in a step by step format, using ti-83plus.
