Sale Prices for Houses The average sales price of new one-family houses in the Midwest is $250,900 and in the South is $261,900 . A random sample of 30 houses in each region was examined with the following results. At the 0.10 level of significance, can it be concluded that the difference in mean sales price for the two regions is greater than $3400 ? (b) Find the critical value. (c) Compute the test value. (d) Make the decision. (e) Summarize the results. South Midwest Sample size 30 30 Sample mean $261,900 $250,900 Population standard deviation $10,500 $12,000 Use μ1 for the average sales price for a house in the South.
Sale Prices for Houses The average sales price of new one-family houses in the Midwest is $250,900 and in the South is $261,900 . A random sample of 30 houses in each region was examined with the following results. At the 0.10 level of significance, can it be concluded that the difference in mean sales price for the two regions is greater than $3400 ? (b) Find the critical value. (c) Compute the test value. (d) Make the decision. (e) Summarize the results. South Midwest Sample size 30 30 Sample mean $261,900 $250,900 Population standard deviation $10,500 $12,000 Use μ1 for the average sales price for a house in the South.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section: Chapter Questions
Problem 8SGR
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Question
Sale Prices for Houses The average sales price of new one-family houses in the Midwest is
$250,900
and in the South is
$261,900
. A random sample of
30
houses in each region was examined with the following results. At the
0.10
level of significance, can it be concluded that the difference in mean sales price for the two regions is greater than
$3400
?
(b) Find the critical value.
(c) Compute the test value.
(d) Make the decision.
(e) Summarize the results.
| South | Midwest | |
|---|---|---|
|
30
|
30
|
|
| Sample mean |
$261,900
|
$250,900
|
| Population standard deviation |
$10,500
|
$12,000
|
Use
μ1
for the average sales price for a house in the South.
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