In: Statistics and Probability
Answer the following questions using the data given in the table. Use the T-Test Paired Two Sample for Means to arrive at the solutions to the questions below. Use an alpha value of 0.01
| Home | Appraiser 1 | Appraiser 2 |
| A | $235,000 | $228,000 |
| B | $210,000 | $205,000 |
| C | $231,000 | $219,000 |
| D | $242,000 | $240,000 |
| E | $205,000 | $198,000 |
| F | $230,000 | $223,000 |
| G | $231,000 | $227,000 |
| H | $210,000 | $215,000 |
| I | $225,000 | $222,000 |
| J | $249,000 | $245,000 |
| K | $199,000 | $201,000 |
| 1 | What is the value for the test statistic("t Stat" as Excel calls it)? | |||||
| 2 | What is the value for the Critical value for t? | |||||
| 3 | What is the p-value for this hypothesis test? | |||||
| 4 | Our conclusion should be that the two Appraisers are NOT providing approximately the same value for each house. True or False. | |||||