Essay
(Use Excel) The following are the prices (in $1,000s) of 20 houses sold recently in Vancouver, Washington. A real estate agent believes that the standard deviation of house prices is less than 70 units, where each unit equals $1,000. Assume house prices are normally distributed. 
a. State the null and the alternative hypotheses for the test.
B) Calculate the value of the test statistic.
C) Use Excel's function (either CHISQ.DIST.RT or CHISQ.DIST) to calculate the p-value.
D) At α = 0.10, what is the conclusion? Is the agent's claim supported by the data?
Correct Answer:
Verified
a. H0: σ2 ≥ 4,900, HA: σ2 < 4,900
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