Answer:
Option 2
Step-by-step explanation:
Given that Calder's Construction Company has built a home in a new subdivision which was sold 6 months after it was built, for $48,500. This amount reflected a loss of 3%.
Let the original price =100
Loss = 3
Sale price = 97
Hence we get
if sales price is 97, original price = 100
So if sales price is 48500, original price =
Answer is 50000 dollars
Option 2
Answer:
a) Yes b) No
Step-by-step explanation:
Given that the p value for a two-sided test of the null hypothesis H0: μ = 10
is 0.06
a)
Hence we accept null hypothesis
This implies that 10 will be within the confidence interval of 95%
b) If confidence level = 90%
So we have to reject null hypothesis.
So we do not have 10 in the confidence interval
The reason is the lower the confidence level, the narrower the confidence interval. In this case, 10 has gone outside the narrower interval hence we get this.