Question

In: Statistics and Probability

Residents of neighboring towns in a state have an ongoing disagreement over who lays claim to...

Residents of neighboring towns in a state have an ongoing disagreement over who lays claim to the higher average price of a single-family home. A person in one of these towns obtains a random sample of homes listed for sale with a major local realtor to investigate if there is actually any difference in the average home price. Complete parts a through e.

Town 1	Town 2
389900	489000
415000	589000
489900	599900
699000	769000
759000	980000
809900	1099000
985000	1188000
1179000	1365000
1465000	1655000
1499000	1960000
1585000	1996800
1640000	2185000
1799000	2550000
1865000	2930000
2485000	2979900
2585000	3195000
3775000	3375000
4145000	3445000
4850000	3650000
5600000	4595000
5969000	5800000

c) Test the hypothesis and find the P-value.

Find the test statistic.

t=___

Find the P-value.

P=___

d) What is your conclusion? Use

alphaα=0.05.

e) Use the pooled t-test to test the hypothesis and compare your answer to parts c and d.

Using the data provided, check the assumptions and conditions for this test. Which of the following assumptions or conditions are satisfied for the given data? Select all that apply.

A. Nearly normal condition

B. Independence assumption

C. Equal variance assumption

D. Independent group assumption

Find the test statistic of the pooled t-test.

t=___ (Round to two decimal places as needed.)

Find the P-value of the pooled t-test.

P=____ (Round to three decimal places as needed.)

What is your conclusion of the pooled t-test? Use

alpha=0.05.

How do your answers to parts c and d compare to your answer in part e?

Expert Solution

Using Excel<data<megastat<Hypothesis Test<Paired Observations

Hypothesis Test: Independent Groups (t-test, pooled variance)

	Town 1	Town 2
	21,42,319.05	22,56,933.33	mean
	17,23,009.35	14,29,402.11	std. dev.
	21	21	n

		40	df
		-1,14,614.286	difference (Town 1 - Town 2)
		25,05,97,57,96,476.190	pooled variance
		15,83,027.415	pooled std. dev.
		4,88,532.866	standard error of difference
		0	hypothesized difference

		-0.235	t
		.8157	p-value (two-tailed)

		-11,01,976.039	confidence interval 95.% lower
		8,72,747.468	confidence interval 95.% upper
		9,87,361.754	margin of error

c) Test the hypothesis and find the P-value.

Find the test statistic.

t= -0.235

Find the P-value.

P= 0.8157

d) What is your conclusion? Use

alphaα=0.05.

Since p-value is greater than 0.05(alpha). We fail to reject H0. The mean prices are not significantly different.

e) OPTION A,B,C

t= -0.235

p= 0.8157

Conclusion

Same

orchestra answered 2 years ago

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