As a part of his studies, William gathered data on the annual housing sales for a sample of 20 realtors. He works through the testing procedure: H0:μ≥187; Ha:μ<187 α=0.01 The test statistic is t0=x¯−μ0sn√=−3.323. The critical value is −t0.01=−2.539. At the 1% significance level, does the data provide sufficient evidence to conclude that the mean annual housing sales is less than 187 houses?   Select the correct answer below:   We should reject the null hypothesis because t0tα. So, at the 1% significance level, the data provide sufficient evidence to conclude that the average annual housing sales is less than 187 houses.   We should not reject the null hypothesis because t0>tα. So, at the 1% significance level, the data do not provide sufficient evidence to conclude that the average annual housing sales is less than 187 houses.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Topic Video
Question

As a part of his studies, William gathered data on the annual housing sales for a sample of 20 realtors. He works through the testing procedure:

  • H0:μ≥187; Ha:μ<187
  • α=0.01
  • The test statistic is t0=x¯−μ0sn√=−3.323.
  • The critical value is −t0.01=−2.539.
At the 1% significance level, does the data provide sufficient evidence to conclude that the mean annual housing sales is less than 187 houses?

 

Select the correct answer below:

 

We should reject the null hypothesis because t0<tα. So, at the 1% significance level, the data provide sufficient evidence to conclude that the average annual housing sales is less than 187 houses.

 

We should not reject the null hypothesis because t0<tα. So, at the 1% significance level, the data do not provide sufficient evidence to conclude that the average annual housing sales is less than 187 houses.

 

We should reject the null hypothesis because t0>tα. So, at the 1% significance level, the data provide sufficient evidence to conclude that the average annual housing sales is less than 187 houses.

 

We should not reject the null hypothesis because t0>tα. So, at the 1% significance level, the data do not provide sufficient evidence to conclude that the average annual housing sales is less than 187 houses.

 
  •  

     

  •  

     

  •  

     

  •  

     

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Hypothesis Tests and Confidence Intervals for Proportions
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman