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?

Solutions

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 1 year ago

Next > < Previous

Related Solutions

Residents of neighboring towns have an ongoing disagreement over who lays claim to the higher average...

Residents of neighboring towns 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. Compute the t-statistic. T = _____________________ (Round to three decimal places as needed.) Find the P-value. The P-value is ___________________ (Type an integer or decimal...

Government officials claim that no more than 29% of the residents of a state are opposed...

Government officials claim that no more than 29% of the residents of a state are opposed to building a nuclear plant to generate electricity. Local conservation groups claim that the true percentage is much higher. To test the government’s claim, an independent testing group selects a random sample of 81 state residents and finds that 29 of the people are opposed to the nuclear plant. (a) What is the variable? Is it an attribute or measurable? (b) State the hypotheses...

You have a client who wants to claim a deduction or loss that may be questioned...

You have a client who wants to claim a deduction or loss that may be questioned by the Internal Revenue Service (IRS). Explain two specific deductions or losses that would most likely result in an IRS audit. Outline at least two strategies to avoid a tax audit for a client who wishes to take the specific deductions or losses. Support your proposal with specific recommendations. Obtain a Form 1040 income tax return. Clearly identify the section of the Form 1040...

You want to design a test to support the claim that meat hot dogs have over...

You want to design a test to support the claim that meat hot dogs have over 150 calories per serving. State the null and alternative hypotheses in words. State the null and alternative hypotheses in population parameters. What model are you choosing and what assumptions are needed?

Who Goes, Who Stays? The consulting firm you have worked for over the last year is...

Who Goes, Who Stays? The consulting firm you have worked for over the last year is having some financial troubles. The large contracts it once had are slowly going away, and as your company struggles to make payroll, it is clear that layoffs must occur. The sales staff has not been meeting the sales goals set for them, resulting in incorrect budgets. It has been decided that at least three people in the sales department should be laid off. You...

People who have difficulty matching pitch when they sing often claim to be "tone deaf." There...

People who have difficulty matching pitch when they sing often claim to be "tone deaf." There is a debate as to whether or not "deafness" is an accurate term to describe this condition. Thoughts

john Graut Information Over the course of history, there have been key figures who have contributed...

john Graut Information Over the course of history, there have been key figures who have contributed to healthcare delivery around the world. We will now take a moment and explore some of those significant figures in medicine. Instructions Part 1: John Graunt 1. Under Week 3 Module, locate the John Graunt material 2. For your own knowledge, identify why he is noted as a significant figure in the history of medicine along with the purpose of the Bills of Mortality?...

John and Mary are quarreling over who should have the use of a lift truck first...

John and Mary are quarreling over who should have the use of a lift truck first while loading cartons into a truck for shipment. what steps would ypu take to settle this dispute?

Why has Afghanistan been the constant state of chaos over the years? Can I have top...

Why has Afghanistan been the constant state of chaos over the years? Can I have top 3 reasons and explanations? Thanks!

An employee you have had for over 10 years named Ryan who identifies as a male...

An employee you have had for over 10 years named Ryan who identifies as a male comes to work after an extended vacation asking to be called Alecia and now identifies as a woman. If you are a manager with a close knit crew of people who have also known Ryan for an extended period of time, how would you deal with this situation? What would need to be discussed with Ryan and with the other employees? What emotions might...

Subjects