A real estate broker claims that the median days that one of his listings stays on the market is 45 or less days.To test this,he has collected the following random sample of properties sold showing the days they were on the market prior to selling: The broker is unwilling to assume that the population data are normally distributed.
a.What is the correct null and alternative hypothesis to be tested?
b.What statistical test would you recommend be used to test this hypothesis?
c.Conduct the test and indicate what conclusion should be reached if we test at an alpha = .05 level?

Question

A real estate broker claims that the median days that one of his listings stays on the market is 45 or less days.To test this,he has collected the following random sample of properties sold showing the days they were on the market prior to selling:  The broker is unwilling to assume that the population data are normally distributed.
a.What is the correct null and alternative hypothesis to be tested?
b.What statistical test would you recommend be used to test this hypothesis?
c.Conduct the test and indicate what conclusion should be reached if we test at an alpha = .05 level?

Quizplus · Accepted Answer

The Answer of A real estate broker claims that the median days that one of his listings stays on the market is 45 or less days.To test this,he has collected the following random sample of properties sold showing the days they were on the market prior to selling:  The broker is unwilling to assume that the population data are normally distributed.
a.What is the correct null and alternative hypothesis to be tested?
b.What statistical test would you recommend be used to test this hypothesis?
c.Conduct the test and indicate what conclusion should be reached if we test at an alpha = .05 level?

A Real Estate Broker Claims That the Median Days That