If a random sample of 17 homes south of a town has a mean selling price of $145,325 and a standard deviation of $4600, and a random sample of 22 homes north of a town has a mean selling price of $148,450 and a standard deviation of $5950, can you conclude that there is a significant difference between the selling price of homes in these two areas of the town at the 0.05 level? Assume normality. (a) Find t. (Round your answer to two decimal places.) (ii) Find the p-value. (Round your answer to four decimal places.)

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
If a random sample of 17 homes south of a town has a mean selling price of
$145,325 and a standard deviation of $4600, and a random sample of 22
homes north of a town has a mean selling price of $148,450 and a standard
deviation of $5950, can you conclude that there is a significant difference
between the selling price of homes in these two areas of the town at the
0.05 level? Assume normality.
(a) Find t. (Round your answer to two decimal places.)
(ii) Find the p-value. (Round your answer to four decimal places.)
(b) State the appropriate conclusion.
O Reject the null hypothesis. There is significant evidence of a
difference in means.
O Fail to reject the null hypothesis. There is significant evidence of a
difference in means.
Fail to reject the null hypothesis. There is not significant evidence of
a difference in means.
O Reject the null hypothesis. There is not significant evidence of a
difference in means.
Transcribed Image Text:If a random sample of 17 homes south of a town has a mean selling price of $145,325 and a standard deviation of $4600, and a random sample of 22 homes north of a town has a mean selling price of $148,450 and a standard deviation of $5950, can you conclude that there is a significant difference between the selling price of homes in these two areas of the town at the 0.05 level? Assume normality. (a) Find t. (Round your answer to two decimal places.) (ii) Find the p-value. (Round your answer to four decimal places.) (b) State the appropriate conclusion. O Reject the null hypothesis. There is significant evidence of a difference in means. O Fail to reject the null hypothesis. There is significant evidence of a difference in means. Fail to reject the null hypothesis. There is not significant evidence of a difference in means. O Reject the null hypothesis. There is not significant evidence of a difference in means.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Hypothesis Tests and Confidence Intervals for Means
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.
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