A certain company will purchase the house of any employee who is transferred out of state and will handle all details of reselling the house. The purchase price is based on two assessments, one assessor being chosen by the employee and one by the company. Based on the sample of eight assessments shown, do the two assessors agree? Use the .05 level of significance. Assessments of Eight Homes ($ thousands)Assessed byHome 1Home 2Home 3Home 4Home 5Home 6Home 7Home 8Company320347456277294281540749Employee310347480287310295560775 Click here for the Excel Data File (a) Choose the appropriate hypotheses. Assume d = company assessed value – employee assessed value. multiple choice 1H0: μd = 0 versus H1: μd ≠ 0.H0: μd ≠ 0 versus H1: μd = 0. (b) State the decision rule for .05 level of significance. (Round your answers to 2 decimal places. A negative value should be indicated by a minus sign.) Reject the null hypothesis if tcalc < or tcalc > . (c-1) Find the test statistic tcalc. (Round your answer to 2 decimal places. A negative value should be indicated by a minus sign.) tcalc

From the given data we conduct paired t test.

Answered: certain company will purchase the house…

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section: Chapter Questions

Problem 13PT

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Question

A certain company will purchase the house of any employee who is transferred out of state and will handle all details of reselling the house. The purchase price is based on two assessments, one assessor being chosen by the employee and one by the company. Based on the sample of eight assessments shown, do the two assessors agree? Use the .05 level of significance.

Assessments of Eight Homes ($ thousands)
Assessed by	Home 1	Home 2	Home 3	Home 4	Home 5	Home 6	Home 7	Home 8
Company	320	347	456	277	294	281	540	749
Employee	310	347	480	287	310	295	560	775

Click here for the Excel Data File

(a) Choose the appropriate hypotheses. Assume d = company assessed value – employee assessed value.

multiple choice 1

H₀: μ_d = 0 versus H₁: μ_d ≠ 0.
H₀: μ_d ≠ 0 versus H₁: μ_d = 0.

(b) State the decision rule for .05 level of significance. (Round your answers to 2 decimal places. A negative value should be indicated by a minus sign.)

Reject the null hypothesis if t_calc < or t_calc > .

(c-1) Find the test statistic t_calc. (Round your answer to 2 decimal places. A negative value should be indicated by a minus sign.)

t_calc