Because of different sales ability, experience, and devotion, the incomes of real estate agents vary considerably. Suppose that in a large city the annual income is normally distributed with a standard deviation of $15,000. A real estate industry expert claims that the mean annual income of all real estate agents in the city is equal to $79,000. A sample of 30 real estate agents showed that their mean annual income was $84,230. Test the manager's claim using a level of significance of 0.05. 2 What is yo

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section: Chapter Questions
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Because of different sales ability, experience, and devotion, the
incomes of real estate agents vary considerably. Suppose that in a large
city the annual income is normally distributed with a standard deviation
of $15,000. A real estate industry expert claims that the mean annual
income of all real estate agents in the city is equal to $79,000. A sample
of 30 real estate agents showed that their mean annual income was
$84,230. Test the manager's claim using a level of significance of 0.05.
What is your conclusion?
Heading 1
Styles
Heading 2
24°C Partly clou
Transcribed Image Text:Font (United States) F | Paragraph 11 Normal I 11 No Spacing Because of different sales ability, experience, and devotion, the incomes of real estate agents vary considerably. Suppose that in a large city the annual income is normally distributed with a standard deviation of $15,000. A real estate industry expert claims that the mean annual income of all real estate agents in the city is equal to $79,000. A sample of 30 real estate agents showed that their mean annual income was $84,230. Test the manager's claim using a level of significance of 0.05. What is your conclusion? Heading 1 Styles Heading 2 24°C Partly clou
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