Question

In: Statistics and Probability

The sales prices of homes (in dollars) from a random sample of 10 zip codes in...

The sales prices of homes (in dollars) from a random sample of 10 zip codes in the United States are recorded in the following table.

  1. At the 0.10 level of significance, is there evidence of a difference in the mean selling price for homes between 2001 and 2002?

ii.Determine the p-value in (i) and interpret its meaning.

Town

2001

2002

Alexandria

245795

293266

Boston

391750

408803

Decatur

205270

227561

Kirkland

326524

333569

New York

545363

531098

Philadelphia

185736

197874

Phoenix

170413

175030

Raleigh

210015

196094

San Bruno

385387

391409

Tampa

194205

199858

Solutions

Expert Solution


Related Solutions

A random sample of the closing stock prices in dollars for a company in a recent...
A random sample of the closing stock prices in dollars for a company in a recent year is listed below. Assume that σ is ​$2.36. Construct the 90​% and 99​% confidence intervals for the population mean. Interpret the results and compare the widths of the confidence intervals. 22.34 17.02 21.44 16.52 22.13 20.58 19.08 16.08 16.09 19.24 19.58 22.67 17.62 19.96 15.18 21.32 The​ 90% confidence interval is ($ ? , $ ?) ​(Round to two decimal places as​ needed.)...
House prices: The following table presents prices, in thousands of dollars, of single-family homes for 20...
House prices: The following table presents prices, in thousands of dollars, of single-family homes for 20 of the 25 largest metropolitan areas in the United States for the third quarter of 2012 and the third quarter of 2013. Metro Area 2012 2013 Metro Area 2012 2013 Atlanta, GA 87.8 115.1 Philadelphia, PA 193.5 197.7 Baltimore, MD 218.1 226.5 Phoenix, AZ 129.9 169.0 Boston, MA 311.5 332.2 Portland, OR 208.6 246.5 Chicago, IL 157.2 159.4 Riverside, CA 174.3 216.7 Cincinnati, OH...
A random sample of stock prices per share (in dollars) is shown. Find the 92% confidence...
A random sample of stock prices per share (in dollars) is shown. Find the 92% confidence interval for the mean stock price. Assume the population of stock prices is normally distributed. 26.6 75.37 3.81 28.37 40.25 13.88 53.8 28.25 10.87 12.25
In this example we use the typical sales price of homes in a random sample of U5 counties
Question 5 In this example we use the typical sales price of homes in a random sample of U5 counties (recorded with units as $ 1000 per square foot to predict the typical rental cost in the county (in units of $ per square foot) -Y: The typical Rental Cost in the county ($ per square foot).x : The typical sales price of properties in the county ($1000 per square foot).Assume we compare the counties A and B. County A has...
The table shows the prices (in dollars) for a sample of automobile batteries. The prices are...
The table shows the prices (in dollars) for a sample of automobile batteries. The prices are classified according to battery type. At α = .05α = .05α = .05, is there enough evidence to conclude that at least one mean battery price is different from the others? (Assume the samples are random and independent, the populations are normally distributed, and the population variances are equal) Battery Type A 110 100 125 90 120 Battery Type B 280 145 180 175...
Keep cool: Following are prices, in dollars, of a random sample of ten 7.5-cubic-foot refrigerators. A...
Keep cool: Following are prices, in dollars, of a random sample of ten 7.5-cubic-foot refrigerators. A consumer organization reports that the mean price of 7.5-cubic-foot refrigerators is less than $380. Do the data provide convincing evidence of this claim? Use the =α0.10 level of significance and the critical value method with the Critical Values for the Student's t Distribution Table. 344 411 359 316 349 309 366 382 327 337 Following is a dotplot for these data. Is it reasonable...
A random sample of 10 one-bedroom apartments from your local newspaper has these monthly rents (dollars):...
A random sample of 10 one-bedroom apartments from your local newspaper has these monthly rents (dollars): 500, 650, 600, 505, 450, 550, 515, 495, 650, 395.   Do these data give good reason to believe that the mean rent of all advertised apartments is greater than $500 per month?   State hypotheses. Find the mean and standard deviation using SPSS or Excel.   Compute the p-value and draw your conclusions.
Define the equivalence partitions and give suitable test cases for the following: Zip codes: Range from...
Define the equivalence partitions and give suitable test cases for the following: Zip codes: Range from 00600 to 98000 inclusive. States: AL (Alabama) to WY (Wyoming) Last Name: One through twelve characters (alphabetic, space and hyphen) User ID: Eight characters, at least two of which are not alphabetic (numeric, special characters) For full credit, you should give one test case for each equivalence partition defined by you, even if it is possible to cover more than one partitions in one...
The following random sample of weekly student expenses in dollars is obtained from a normally distributed...
The following random sample of weekly student expenses in dollars is obtained from a normally distributed population of undergraduate students with unknown parameters. 8 56 76 75 62 81 72 69 91 84 49 75 69 59 70 53 65 78 71 87 71 74 69 65 64 You have been charged to conduct a statistical test in SPSS to verify the claim that the‘average weekly student expenses’ is different than 74 dollars using an alpha level of 5%.            ...
A random sample of 10 sales receipts for mail-order sales results in a mean sale amount...
A random sample of 10 sales receipts for mail-order sales results in a mean sale amount of $79.20 with a standard deviation of $18.75 A random sample of 16 sales receipts for internet sales results in a mean sale amount of $70.30 with a standard deviation of $28.75 Using this data, find the 98% confidence interval for the true mean difference between the mean amount of mail-order purchases and the mean amount of internet purchases. Assume that the population variances...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT