Performing a Sign Test In Exercises 7–22, (a) identify the claim and state Ho and Ha, (b) find the critical value, (c) find the test statistic, (d) decide whether to reject or fail to reject the null hypothesis, and (e) interpret the decision in the context of the original claim.
Sales Prices of Homes A real estate agent claims that the median sales price of new privately owned one-family homes sold in Newark, New Jersey, in a recent month is $500,000 or less. The sales prices (in dollars) of 10 randomly selected homes are listed below. At , is there enough evidence to reject the agent’s claim? (Adapted from National Association of Realtors)