Discussion:
Q: According to Remodeling magazine, the average cost to convert an existing room into a home office with custom cabinery and rewiring for electronic equipment is $5976. Assuming a population standard deviation of $1000 and the sample of home office conversion prices charged for 40 recent jobs performed by builders in a region of the United States, examine whether the mean price for home office conversions for builders in this region might be different from the average for thenation as a whole. The underlying data are in file XR10033. Identify an interpret the p-value for the test. Using the 0.025 level of significance, what conclusion will be reached?
Price
7213
5259
5106
5559
5437
4755
4329
6199
6679
7885
7370
5776
7104
5584
6800
6294
6010
5382
7196
5811
6460
5385
6159
9359
6066
7504
6067
5773
6335
6361
7619
5041
6878
5786
5571
8540
6345
5854
6592
6957