According to the National Association of Home Builders, the average cost of building a home in the Northeast is $117.91

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According to the National Association of Home Builders, the
average cost of building a home in the Northeast is $117.91 per
square foot. A random sample of 33 new homes indicated that the
mean cost was $120.14 and the standard deviation was $16. Can it be
concluded that the mean cost differs from 117.91, using the 0 .05
level of significance?
a) State the hypotheses and identify the claim with the correct
hypothesis.
1.
H0:µ≥$117.91 Not claim
H1:µ≠$117.91 claim
2.
H0:µ≤$117.91 Not claim
H1:µ>$117.91 claim
3.
H0:µ=$117.91 Not claim
H1:µ≠$117.91 claim
b) Find the critical value (s).
1. CV=±1.65
2. CV=±1.96
3. CV= -2.58
c) Compute the test value:
1. z= –0.85
2. z=0.89
3. z= 0.80
d) Make the decision.
1. Reject the null hypothesis.
2.Do not reject the null hypothesis.
e) Summarize the results.
1. There is enough evidence to support the claim.
2.There is not enough evidence to support the claim.