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(Round all Intermediate calculations to at least 4 decimal places.) An entrepreneur owns some land that he wishes to develop. He Identifies two development options: build condominiums or build apartment buildings. Accordingly, he reviews public records and derives the following summary measures concerning annual profitability based on a random sample of 30 for each such local business ventures. For the analysis, he uses a historical (populati standard deviation of $22,000 for condominiums and $19,500 for apartment buildings. (You may find it useful to reference the appropriate table: z table or t table) Sample 1 represents condominiums and Sample 2 represents apartment buildings. Apartment Buildings X2-$236,800 n₂-30 Condominiums X-$248, 100 ₁-30 a. Set up the hypotheses to test whether the mean profitability differs between condominiums and apartment buildings. OHO: H1-42-0; HA: H1-42*0 O Ho: H1-H220: HA: H1-42 <0 O Ho: H1-H2 ≤0; HA: H1-H2>0 b. Calculate the value of the test statistic. (Round your answer to 2 decimal places.) Test statistic

(Round all Intermediate calculations to at least 4 decimal places.) An entrepreneur owns some land that he wishes to develop. He Identifies two development options: build condominiums or build apartment buildings. Accordingly, he reviews public records and derives the following summary measures concerning annual profitability based on a random sample of 30 for each such local business ventures. For the analysis, he uses a historical (populati standard deviation of $22,000 for condominiums and $19,500 for apartment buildings. (You may find it useful to reference the appropriate table: z table or t table) Sample 1 represents condominiums and Sample 2 represents apartment buildings. Apartment Buildings X2-$236,800 n₂-30 Condominiums X-$248, 100 ₁-30 a. Set up the hypotheses to test whether the mean profitability differs between condominiums and apartment buildings. OHO: H1-42-0; HA: H1-42*0 O Ho: H1-H220: HA: H1-42 <0 O Ho: H1-H2 ≤0; HA: H1-H2>0 b. Calculate the value of the test statistic. (Round your answer to 2 decimal places.) Test statistic

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 30PPS
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O 0.05 s p-value <0.10 d-1. At the 1% significance level, what is the conclusion to the test? HO. At the 1% significance levels, we mean profitability differs between condominiums and apartment buildin cannot can Show Transcribed Text HO. At the 5% significance levels, we mean profitability differs between condominiums and apartment buildir d-2. At the 5% significance level, what is the conclusion to the test? can cannot conclude the conclude the
Transcribed Image Text:O 0.05 s p-value <0.10 d-1. At the 1% significance level, what is the conclusion to the test? HO. At the 1% significance levels, we mean profitability differs between condominiums and apartment buildin cannot can Show Transcribed Text HO. At the 5% significance levels, we mean profitability differs between condominiums and apartment buildir d-2. At the 5% significance level, what is the conclusion to the test? can cannot conclude the conclude the
(Round all Intermediate calculations to at least 4 decimal places.) An entrepreneur owns some land that he wishes to develop. He Identifies two development options: bulld condominiums or build apartment buildings. Accordingly, he reviews public records and derives the following summary measures concerning annual profitability based on a random sample of 30 for each such local business ventures. For the analysis, he uses a historical (population standard deviation of $22,000 for condominiums and $19,500 for apartment buildings. (You may find it useful to reference the appropriate table: z table or t table) Sample 1 represents condominiums and Sample 2 represents apartment buildings. Apartment Condominiuma Buildings X-$248, 100. X2- $236,800 n₁-30 n₂-30 a. Set up the hypotheses to test whether the mean profitability differs between condominiums and apartment buildings. OHO: H1-H2=0; HA: H1-42*0 O Ho: H1-H2 20: HA: H1-H2 <0 O Ho: H1-H2 ≤0; HA: H1-H2> 0 b. Calculate the value of the test statistic. (Round your answer to 2 decimal places.) Test statistic
Transcribed Image Text:(Round all Intermediate calculations to at least 4 decimal places.) An entrepreneur owns some land that he wishes to develop. He Identifies two development options: bulld condominiums or build apartment buildings. Accordingly, he reviews public records and derives the following summary measures concerning annual profitability based on a random sample of 30 for each such local business ventures. For the analysis, he uses a historical (population standard deviation of $22,000 for condominiums and $19,500 for apartment buildings. (You may find it useful to reference the appropriate table: z table or t table) Sample 1 represents condominiums and Sample 2 represents apartment buildings. Apartment Condominiuma Buildings X-$248, 100. X2- $236,800 n₁-30 n₂-30 a. Set up the hypotheses to test whether the mean profitability differs between condominiums and apartment buildings. OHO: H1-H2=0; HA: H1-42*0 O Ho: H1-H2 20: HA: H1-H2 <0 O Ho: H1-H2 ≤0; HA: H1-H2> 0 b. Calculate the value of the test statistic. (Round your answer to 2 decimal places.) Test statistic
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