A realty company looks at a recent sample of houses that have sold On testing the nul hypothesis that 57% of the houses take mor

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A realty company looks at a recent sample of houses that have sold On testing the nul hypothesis that 57% of the houses take mor

e than three months to sell against the hypothesis that more than 57% of the houses take more than three months to sell, they find a P value of 0.026 which conclusion is appropriate? Explain.
Choose the correct answer below. A. If 57% of the houses take more than three months to sell, there is a 2 6% chance that a random sample proportion would be as high as or higher than the one they obtained B. There is a 26% chance that 57% of the houses take more than 3 months to sell C. There is a 97 4% chance that 57% of the houses take more than 3 months to sell D. There is a 26% chance that the null hypothesis is correct

Mathematics

1 answer:

Inessa [12.5K] · Answer 1 · 2026-04-06T21:15:50+03:00

Answer:

The right choice is: Given that 57% of houses take longer than three months to sell, there exists a 2.6% probability that a randomly selected sample proportion would equal or surpass the figure obtained

Step-by-step explanation:

Review the details provided.

The null hypothesis is set at 57%,

$H_0: \mu=0.57\\H_a: \mu>0.57$

The P-value is reported as 0.026

In this context, the P-value indicates the probability.

0.026 can also be expressed as: 2.6%

Thus, the conclusion drawn is:

If 57% of the houses take more than three months to sell, there exists a 2.6% chance that a randomly selected sample proportion would reach or exceed the figure they obtained.

Therefore, the right choice is: Given that 57% of the houses take longer than three months to sell, there exists a 2.6% probability that a randomly selected sample proportion would equal or surpass the figure obtained