According to a high-profile realtor, houses in the sleepy town of Sun Beach have shown higher appreciation over the past three years than have houses in the bustling town of North Arden. To test the realtor's claim, an economist has found eight recently sold homes in Sun Beach and eight recently sold homes in North Arden that were owned for exactly three years. The following table gives the appreciation (expressed as a percentage increase) for each of the sixteen houses. Appreciation rates in percent Sun Beach 10.2, 9.7, 12, 10.4, 7.9, 10.9, 9.6, 13.3 North Arden 7.5, 12.8, 5.9, 8.5, 8.1, 9.3, 6.3, 13.4 Assume that the two populations of appreciation rates are normally distributed and that the population variances are equal. Can we conclude, at the 0.05 level of significance, that houses in Sun Beach have higher appreciation over the past three years than houses in North Arden? Perform a one-tailed test. The null hypothesis: H0: The alternative hypothesis: H1: The type of test statistic: (Choose one)ZtChi squareF The value of the test statistic:(Round to at least three decimal places.) The critical value at the 0.05 level of significance:(Round to at least three decimal places.) Can we conclude that houses in Sun Beach have higher appreciation over the past three years than houses in North Arden? Yes No

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Description: According to a high-profile realtor, houses in the sleepy town of Sun Beach have shown higher appreciation over the past three years than have houses in the bustling town of North Arden. To test the realtor's claim, an economist has found eight recen

Intermediate Algebra

19th Edition

ISBN:9780998625720

Author:Lynn Marecek

Publisher:Lynn Marecek

Chapter12: Sequences, Series And Binomial Theorem

Section12.3: Geometric Sequences And Series

Problem 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...

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According to a high-profile realtor, houses in the sleepy town of Sun Beach have shown higher appreciation over the past three years than have houses in the bustling town of North Arden. To test the realtor's claim, an economist has found eight recently sold homes in Sun Beach and eight recently sold homes in North Arden that were owned for exactly three years. The following table gives the appreciation (expressed as a percentage increase) for each of the sixteen houses.

Appreciation rates in percent

Sun Beach

10.2, 9.7, 12, 10.4, 7.9, 10.9, 9.6, 13.3

North Arden

7.5, 12.8, 5.9, 8.5, 8.1, 9.3, 6.3, 13.4

Assume that the two populations of appreciation rates are normally distributed and that the population variances are equal. Can we conclude, at the

0.05

level of significance, that houses in Sun Beach have higher appreciation over the past three years than houses in North Arden?

Perform a one-tailed test.


The null hypothesis:	H0:
The alternative hypothesis:	H1:
The type of test statistic:	(Choose one)ZtChi squareF

The value of the test statistic: (Round to at least three decimal places.)
The critical value at the 0.05 level of significance: (Round to at least three decimal places.)
Can we conclude that houses in Sun Beach have higher appreciation over the past three years than houses in North Arden?	Yes	No

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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