Determine suitable hypotheses if mean price is given


Use given problems statement to reply the given five questions: Assume that in past years average price per square foot for warehouses in United States has been $32.28. The national real estate investor wishes to find whether that figure has changed now. Investor hires the researcher who randomly samples 19 warehouses which are for sale across United States and discovers that mean price per square foot is $31.67, with the standard deviation of $1.29. If researcher uses the 5% level of significance, determine suitable hypotheses?

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Mathematics: Determine suitable hypotheses if mean price is given
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