House prices: Data from the National Association of Realtors indicate that the mean price of a home in Denver, Colorado, in 2012 was 260.7 thousand dollars. A random sample of 59 homes sold in 2013 had a mean price of 290 thousand dollars. Can you conclude that the mean price in 2013 is greater than the mean price in 2012? Assume the population standard deviation is Ģ = 129. Use the Ģ = 0.05 level of significance and the P-value method with the TI-84 calculator.
State the appropriate null and alternate hypotheses.
H0:
H1:
This hypothesis test is a (Choose one) test.