Question

If a random sample of 16 homes south of Center Street in Provo has a mean selling price of $145,450 and a standard deviation of $4525, and a random sample of 28 homes north of Center Street has a mean selling price of $148,900 and a standard deviation of $5625, can you conclude that there is a significant difference between the selling price of homes in these two areas of Provo at the 0.05 level? Assume normality. (a) Find t. (Give your answer correct to two decimal places.)

(ii) Find the p-value. (Give your answer correct to four decimal places.)

(b) State the appropriate conclusion.

Reject the null hypothesis, there is not significant evidence of a difference in means.

Reject the null hypothesis, there is significant evidence of a difference in means.

Fail to reject the null hypothesis, there is significant evidence of a difference in means.

Fail to reject the null hypothesis, there is not significant evidence of a difference in means.

Answer 1