The Eagle Ridge Contractors Association claims the average price of a home in their subdivision is $125,150 with a standard deviation of $7,350. A sample of 36 homes for sale in this subdivision had an average selling price of $123,550. The Eagle Ridge Home Owners Association is interested in knowing if the costs of homes for sale in this subdivision are actually lower than claimed. Let α = 0.02. a. State the hypothesis and identify the claim.

b. Find the critical value(s).

c. Find the test value

d. Find the p-value

e. Make the decision.

f. Summarize the results.