Question

Neighborhood homeowners association suspects that the recent appraisal values of the houses in the neighborhood conducted by the county government for taxation purposes is too high. It hired a private company to appraise the values of a random sample of ten houses in the neighborhood. The results in thousands of dollars are:

House	County government	Private Company
1	217	219
2	350	338
3	296	291
4	237	237
5	237	235
6	272	269
7	257	239
8	277	275
9	312	320
10	335	335

Blank #1:  Samples are matched because they are paired by same __________.

Blank #2: Give a point estimate for the difference in the mean government appraisal of all homes and the mean private appraisal of all homes.  Report your answer with two decimals. Call government 1 and private 2 in proceeding with analysis.  

The 99% confidence interval for the difference, using these data is (-04.271, 10.671)  Because the confidence interval includes 0, we must believe that the mean appraisal values are blank #3?

Perform the relevant test at a significance level of 1% and fill in the following blanks.

Use the framework below to guide your work.

Blank #4: Fill in the alternative hypothesis with the correction notation (<, > or not equals)

H0:  μd=0HA:  μd______________0H0:  μd=0HA:  μd______________0

Blank #5: Test statistic = _________ (round to two decimal places)

Blank #6:  p-value = __________ (round to four decimal places)

Blank #7: Test decision: We decide to ___________ Ho (reject or do not reject)

Blank #8: Conclusion back into the words of problem: The evidence __________(favors or does not favor) that the mean appraisal value from the county government is higher than that of the mean appraisal value from the private company.

Answer 1

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