Question
In: Statistics and Probability
The following data were collected about 10 houses that were sold in March in Crystal, KY....
The following data were collected about 10 houses that were sold in March in Crystal, KY.
At the 0.05 significance level, test the hypothesis that there is no significant relationship between square footage and selling price.
| Square Footage | Selling Price | ||
| (Feet) | (Us Dollars) | ||
| 1450 | 150000 | ||
| 1900 | 212000 | ||
| 1670 | 195000 | ||
| 2000 | 235000 | ||
| 1450 | 175000 | ||
| 2200 | 275000 | ||
| 1900 | 180000 | ||
| 2400 | 255000 | ||
| 3000 | 230000 | ||
| 2800 | 245000 | ||
Solutions
Expert Solution
| Square Footage (X) | Selling Price (Y) | X * Y |
 |
 |
|
| 1450 | 150000 | 217500000 | 2102500 | 22500000000 | |
| 1900 | 212000 | 402800000 | 3610000 | 44944000000 | |
| 1670 | 195000 | 325650000 | 2788900 | 38025000000 | |
| 2000 | 235000 | 470000000 | 4000000 | 55225000000 | |
| 1450 | 175000 | 253750000 | 2102500 | 30625000000 | |
| 2200 | 275000 | 605000000 | 4840000 | 75625000000 | |
| 1900 | 180000 | 342000000 | 3610000 | 32400000000 | |
| 2400 | 255000 | 612000000 | 5760000 | 65025000000 | |
| 3000 | 230000 | 690000000 | 9000000 | 52900000000 | |
| 2800 | 245000 | 686000000 | 7840000 | 60025000000 | |
| Total | 20770 | 2152000 | 4604700000 | 45653900 | 4.77294E+11 |
To Test :-
H0 :- 
H1 :- 
Test Statistic :-
t = 2.8912
Test Criteria :-
Reject null hypothesis if 
Result :- Reject null hypothesis
Decision based on P value
P - value = 0.0202
Reject null hypothesis if P value < 
level of
significance
P - value = 0.0202 < 0.05 ,hence we reject null hypothesis
Conclusion :- We reject H0
There is no sufficient evidence to support the claim that is no significant relationship between square footage and selling price.
orchestra answered 1 year agoRelated Solutions
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