
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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Transcribed Image Text:Fairfield Homes is developing two parcels near Pigeon Fork, Tennessee. In order to test different advertising approaches, it uses
different media to reach potential buyers. The mean annual family income for 17 people making inquiries at the first development is
$160,000, with a standard deviation of $39,000. A corresponding sample of 29 people at the second development had a mean of
$174,000, with a standard deviation of $32,000. Assume the population standard deviations are the same. At the 0.10 significance
level, can Fairfield conclude that the population means are different?
a. State the decision rule for 0.10 significance level: Hg: P1 = Hz; Hq;Hq # Pz. (Negative amounts should be indicated by a minus sign.
Round your answers to 3 decimal places.)
Reject H0 if t is not between
|and
b. Compute the value of the test statistic. (Negative amount should be indicated by a minus sign. Round your answer to 3 decimal
places.)
Value of the test statistic
c. At the 0.10 significance level, can Fairfield conclude that the population means are different?
H0. Fairfield
conclude that the population means are different.
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