*Using hypothesis sample for the mean
Ho
H1
A real estate selling agency, Farm Associates, specializes on the selling of farms in the state of Nebraska. Their registers show that the average time to sell a farm is of 90 days. As a consecuence from recent droughts, the agency believes that the average time to sell a farm is superior to 90 days. A recent poll from 100 farms in all the state shows that the average time to sell was of 94 days, with a standard deviation of 22 days. With a statistical significancy level of 0.10
Does the time of selling rise up?
A recent article from the Vitality magazine informed that the weekly average quantity of time to rest of the americans is of 40 hrs. You think that the quantity is very high and decide to start with your own tests. In a random sample of 60 men, you find that the mean is of 37.8 hrs with a sample standard deviation of 12.2 hrs. Can you conclude that the information on the article is incorrect and the number of hours is less ? Use a statistical significancy level of 0.05.