Homes in a nearby college town have a mean value of $88,950. It is assumed that homes in the vicinity of the college have a higher mean value

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Homes in a nearby college town have a mean value of $88,950. It is assumed that homes in the vicinity of the college have a higher mean value. To test this theory, a random sample of 12 homes is chosen from the college area. Their mean valuation is $92,460, and the standard deviation is $5200. Complete a hypothesis test using α = 0.05. Assume prices are normally distributed.


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