Suppose that in the past years the average price per square foot for warehouses in the U.S. has been $32.28. A real estate investor wants to determine if that figure has changed. a sample of 48 warehouses that are for sale across the U.S is taken, and the meanprice per square foot is $31.67, with a sample standard deviationof $1.29. Test the investor’s concern at a 5% level of significance. What is your conclusion?
This solution provides assistance in testing the investor’s concern at a 5% level of significant and states a conclusion.