Data Were Collected from the Sale of 25 Properties by a Local

Short Answer

Data were collected from the sale of 25 properties by a local real estate agent. The following printout concentrated on the land value variable from the sampled properties. HYPOTHESIS: MEAN X = x X = land_value SAMPLE MEAN OF X = 51,288 SAMPLE VARIANCE OF X = 273,643,254 SAMPLE SIZE OF X = 25 x = 46,845 MEAN X - x = 4443 t = 1.34293 D.F. = 24 P-VALUE = 0.1918585 P-VALUE/2 = 0.0959288 SD. ERROR = 3308.43 Suppose we are interested in testing whether the mean land value from this neighborhood differs from 46,845. Which hypotheses would you test? A) $H _ { 0 } : \mu = 46,845$ vs. $H _ { \mathbf { a } } : \mu \neq 46,845$
B) $H _ { 0 } : \mu = 46,845$ vs. $H _ { \mathrm { a } } : \mu > 46,845$
C) $H _ { 0 } : \mu = 46,845$ vs. $H _ { \mathbf { a } } : \mu < 46,845$
D) $H _ { 0 } : \mu \neq 46,845$ vs. $H _ { a } : \mu = 46,845$