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A real estate agent believes that the mean home price in the northern part of a county is higher than price in the southern part of the county and would like to test the claim. A simple random sample of prices is taken from each region. The results are shown below. Southern Northern Mean 154.889 167.833 Variance 354.458 521.912 Observations Pooled Variance Hypothesized Mean Difference 18 18 438.185 df 34 p= Ex: 1.234 t Stat P(T<=t) one-tail t Critical one-tail P(T<=t) two-tail t Critical two-tail 1.885 0.036 1.691 0.072 2.032 -3 -2 2 3 Confidence Level 95% t = Ex: 1.234 n = Ex: 9 Degrees of freedom: df Point estimate for the southern part of the county: 1 Ex: 1.234 Point estimate for the northern part of the county: 2

A real estate agent believes that the mean home price in the northern part of a county is higher than price in the southern part of the county and would like to test the claim. A simple random sample of prices is taken from each region. The results are shown below. Southern Northern Mean 154.889 167.833 Variance 354.458 521.912 Observations Pooled Variance Hypothesized Mean Difference 18 18 438.185 df 34 p= Ex: 1.234 t Stat P(T<=t) one-tail t Critical one-tail P(T<=t) two-tail t Critical two-tail 1.885 0.036 1.691 0.072 2.032 -3 -2 2 3 Confidence Level 95% t = Ex: 1.234 n = Ex: 9 Degrees of freedom: df Point estimate for the southern part of the county: 1 Ex: 1.234 Point estimate for the northern part of the county: 2

College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.7: Probability
Problem 58E: What is meant by the sample space of an experiment?
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A real estate agent believes that the mean home price in the northern part of a county is higher than the mean price in the southern part of the county and would like to test the claim. A simple random sample of housing prices is taken from each region. The results are shown below. Southern Northern Variance 354.458 521912 18 Observations 18 Pooled Variance Hypothesized Mean Difference df t Stat 438.185 34 1885 0.036 1.691 0.072 2.032 p= Ex: 1.234 P(T<=t) one-tail t Critical one-tail P(T<t) two-tail tCritical two-talil 1. Confidence Level 95% t = Ex: 1.234 n= Ex 9 Degrees of freedom df - Point estimate for the southern part of the county: 1 Ex 1.234 Point estimate for the northern part of the county: 2 1
Transcribed Image Text:A real estate agent believes that the mean home price in the northern part of a county is higher than the mean price in the southern part of the county and would like to test the claim. A simple random sample of housing prices is taken from each region. The results are shown below. Southern Northern Variance 354.458 521912 18 Observations 18 Pooled Variance Hypothesized Mean Difference df t Stat 438.185 34 1885 0.036 1.691 0.072 2.032 p= Ex: 1.234 P(T<=t) one-tail t Critical one-tail P(T<t) two-tail tCritical two-talil 1. Confidence Level 95% t = Ex: 1.234 n= Ex 9 Degrees of freedom df - Point estimate for the southern part of the county: 1 Ex 1.234 Point estimate for the northern part of the county: 2 1
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