BuyFind*arrow_forward*

13th Edition

Anderson

Publisher: CENGAGE L

ISBN: 9781305881884

Chapter 9, Problem 67SE

Textbook Problem

1119 views

In Hamilton County, Ohio, the mean number of days needed to sell a house is 86 days (Cincinnati Multiple Listing Service, April, 2012). Data for the sale of 40 houses in a nearby county showed a sample mean of 80 days with a sample standard deviation of 20 days. Conduct a hypothesis test to determine whether the mean number of days until a house is sold is different than the Hamilton County mean of 86 days in the nearby county. Use *α* = .05 for the level of significance, and state your conclusion.

To determine

Test whether the mean number of days until a house is sold is different than the Hamilton County mean of 86 days in the nearby county.

**Calculation:**

The given information is that the sample size is

Here, the claim is that the mean number of days until a house is sold is different than the Hamilton County mean of 86 days in the nearby county. This can be written as

The null and alternative hypotheses are given below:

*Null hypothesis:*

*Alternative hypothesis:*

*Test statistic and p-value:*

**Software Procedure:**

Step-by-step procedure to obtain the test statistic using the MINITAB software:

- Choose
**Stat > Basic Statistics > 1-Sample**.*t* - In
**Summarized data,**enter the**sample size as 40**and**mean as 80**

STATISTICS F/BUSINESS+ECONOMICS-TEXT

Show all chapter solutions

Ch. 9.1 - The manager of the Danvers-Hilton Resort Hotel...Ch. 9.1 - The manager of an automobile dealership is...Ch. 9.1 - A production line operation is designed to fill...Ch. 9.1 - Because of high production-changeover time and...Ch. 9.2 - Duke Energy reported that the cost of electricity...Ch. 9.2 - The label on a 3-quart container of orange juice...Ch. 9.2 - Carpetland salespersons average 8000 per week in...Ch. 9.2 - Suppose a new production method will be...Ch. 9.3 - consider the following hypothesis test: H0: 20...Ch. 9.3 - Consider the following hypothesis test: H0: 25...

Ch. 9.3 - Consider the following hypothesis test: H0: = 15...Ch. 9.3 - Consider the following hypothesis test: H0: 80...Ch. 9.3 - Consider the following hypothesis test: H0: 50...Ch. 9.3 - Consider the following hypothesis test: H0: = 22...Ch. 9.3 - Individuals filing federal income tax returns...Ch. 9.3 - In a study entitled How Undergraduate Students Use...Ch. 9.3 - The mean hourly wage for employees in...Ch. 9.3 - Young millennials, adults aged 18 to 34, are...Ch. 9.3 - The Internal Revenue Service (IRS) provides a...Ch. 9.3 - Annual expenditure for prescription drugs was 838...Ch. 9.3 - Fowle Marketing Research, Inc., bases charges to a...Ch. 9.3 - CCN and ActMedia provided a television channel...Ch. 9.4 - Consider the following hypothesis test: H0: 12...Ch. 9.4 - Consider the following hypothesis test: H0: = 18...Ch. 9.4 - Consider the following hypothesis test: H0: 45...Ch. 9.4 - Consider the following hypothesis test: H0: = 100...Ch. 9.4 - Which is cheaper: eating out or dining in? The...Ch. 9.4 - A shareholders group, in lodging a protest,...Ch. 9.4 - The national mean annual salary for a school...Ch. 9.4 - The time married men with children spend on child...Ch. 9.4 - The Coca-Cola Company reported that the mean per...Ch. 9.4 - According to the National Automobile Dealers...Ch. 9.4 - The mean annual premium for automobile insurance...Ch. 9.4 - Joans Nursery specializes in custom-designed...Ch. 9.5 - Consider the following hypothesis test: H0: p =...Ch. 9.5 - Consider the following hypothesis test: H0: p .75...Ch. 9.5 - The U.S. Bureau of Labor Statistics reports that...Ch. 9.5 - A study by Consumer Reports showed that 64% of...Ch. 9.5 - What percentage of the population live in their...Ch. 9.5 - Last year, 46% of business owners gave a holiday...Ch. 9.5 - Ten years ago 53% of American families owned...Ch. 9.5 - According to the University of Nevada Center for...Ch. 9.5 - Eagle Outfitters is a chain of stores specializing...Ch. 9.5 - One of the reasons health care costs have been...Ch. 9.5 - The American Association of Individual Investors...Ch. 9.6 - consider the following hypothesis test. H0: 10...Ch. 9.6 - Consider the following hypothesis test. H0: = 20...Ch. 9.6 - Fowle Marketing Research, Inc., bases charges to a...Ch. 9.6 - A consumer research group is interested in testing...Ch. 9.6 - Young Adult magazine states the following...Ch. 9.6 - Refer to exercise 48. Assume the firm selects a...Ch. 9.6 - Sparr Investments, Inc., specializes in...Ch. 9.7 - Consider the following hypothesis test. H0: 10...Ch. 9.7 - Consider the following hypothesis test. H0: = 20...Ch. 9.7 - Suppose the project director for the Hilltop...Ch. 9.7 - A special industrial battery must have a life of...Ch. 9.7 - Young Adult magazine states the following...Ch. 9.7 - An automobile mileage study tested the following...Ch. 9 - A production line operates with a mean filling...Ch. 9 - At Western University the historical mean of...Ch. 9 - Young children in the United States are exposed to...Ch. 9 - The Wall Street Journal reported that bachelors...Ch. 9 - Data from the Office for National Statistics show...Ch. 9 - A recent issue of the AARP Bulletin reported that...Ch. 9 - The chamber of commerce of a Florida Gulf coast...Ch. 9 - In Hamilton County, Ohio, the mean number of days...Ch. 9 - On December 25, 2009, an airline passenger was...Ch. 9 - An airline promotion to business travelers is...Ch. 9 - Members of the millennial generation are...Ch. 9 - The unemployment rate for 18- to 34-year-olds was...Ch. 9 - A radio station in Myrtle Beach announced that at...Ch. 9 - In recent years more people have been working past...Ch. 9 - Shorney Construction Company bids on projects...Ch. 9 - A federal funding program is available to...Ch. 9 - H0: = 120 and Ha: 120 are used to test whether...Ch. 9 - Quality Associates, Inc. Quality Associates, Inc.,...Ch. 9 - Ethical Behavior of Business Students at Bayview...

Find more solutions based on key concepts

Show solutions (Zero Economic Profits ¡n Long Run) Why is there no economic profit for perfectly competitive firms in the long...

ECON: MICRO4 (New, Engaging Titles from 4LTR Press)

You are trying to decide whether to take a vacation. Most of the costs of the vacation (airfare, hotel, and for...

Principles of Macroeconomics (MindTap Course List)

In Exercise 5, suppose that any incoming individual is equally likely to be assigned to any of the three statio...

Probability and Statistics for Engineering and the Sciences

Suppose that society decided to reduce consumption and increase investment. a. How would this change affect eco...

Brief Principles of Macroeconomics (MindTap Course List)

Give an example of a positive statement and an example of a normative statement that somehow relates to your da...

Principles of Economics (MindTap Course List)

Governments may intervene in a market economy in order to a. protect property rights. b. correct a market failu...

Principles of Microeconomics (MindTap Course List)

If the United States imports more goods from abroad than it exports, foreigners will tend to have a surplus of ...

Fundamentals of Financial Management (MindTap Course List)

TIME VALUE OF MONEY ANALYSIS You have applied for a job with a local bank. As part of its evaluation process, y...

Fundamentals Of Financial Management, Concise Edition (mindtap Course List)

Many consumers rely on product reviews posted online, presumably by ordinary citizens describing their authenti...

Essentials of Business Communication (MindTap Course List)

Adjusting entries Selected account balances before adjustment for Atlantic Coast Realty at July 31, the end of ...

Financial & Managerial Accounting

NOMINAL INTEREST RATE AND EXTENDING CREDIT As a jewelry store manager, you want to offer credit, with interest ...

Fundamentals of Financial Management, Concise Edition (MindTap Course List)

Purchases transactions Elkhorn Company purchased merchandise on account from Springhill Company for 42,000, ter...

Corporate Financial Accounting

Identify two ways in which the SBA provides financial assistance to small businesses.

Foundations of Business (MindTap Course List)

Use the Internet to locate www.cia.gov and www.Amazon.com. Find the privacy and security policies for each. Com...

Accounting Information Systems

Case 2-69 CONTINUING PROBLEM: FRONT ROW ENTERTAINMENT After much consideration, Cam and Anna decide to organize...

Cornerstones of Financial Accounting

PR 1-2 B Financial statements The assets and liabilities of Wilderness Travel Service on April 30, 20Y7, and it...

Financial And Managerial Accounting

National Park Tours Co. is a travel agency. The nine transactions recorded by National Park Tours during May 20...

Financial Accounting

For each of the following questions, circle the answer that best describes you. You react to little children wi...

Management, Loose-Leaf Version

The ________ is prepared after closing entries are posted to prove the equality of debit and credit balances. (...

College Accounting, Chapters 1-27

A marginal change is one that a. is not important for public policy. b. incrementally alters an existing plan. ...

Essentials of Economics (MindTap Course List)

Contrast the focus of marketing activities during the five eras of marketing history.

Contemporary Marketing

Explain the consumers postpurchase evaluation process

MKTG 12:STUDENT ED.-TEXT

Describe two reports provided by independent auditors in the annual report to shareholders.

Financial & Managerial Accounting

What are convertible bonds? Why would a company issue convertible debt?

Intermediate Accounting: Reporting And Analysis

Lamp Light Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. L...

Financial Accounting

With regard to goods sold and purchased, explain how sales returns and allowances and purchases returns and all...

College Accounting (Book Only): A Career Approach

Data in a data warehouse are in a stable state. Explain how this can hamper data mining analysis. What can an o...

Accounting Information Systems

The amount of revenue required to earn a targeted profit is equal to a. total fixed cost divided by contributio...

Managerial Accounting: The Cornerstone of Business Decision-Making

List the opportunity costs of the following: a. going to college b. missing a lecture c. withdrawing and spendi...

Exploring Economics

What is the role of the financial system? Name and describe two markets that are part of the financial system i...

Principles of Macroeconomics (MindTap Course List)

Kristi Williams offers family counseling services specializing in financial and marital problems. A chart of ac...

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

CURRENCY APPRECIATION Suppose that 1 Danish krone could be purchased in the foreign exchange market today for 0...

Fundamentals of Financial Management (MindTap Course List)

As of December 31, the end of the current year, the ledger of Harris Company contained the following account ba...

College Accounting (Book Only): A Career Approach

Dividends per share National Furniture Company has 25 ,000 shares of cumulative preferred 2% stock , 75 par and...

Accounting (Text Only)

How might the absence of an organizations strategic plan for the information system affect the conduct of a pre...

Pkg Acc Infor Systems MS VISIO CD

Suppose you are a director of an energy company that has three divisionsnatural gas, oil, and retail (gas stati...

Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)

James lives in a rent-controlled apartment and has for the past few weeks been trying to get the supervisor to ...

Macroeconomics

Given the following information, state whether the perfectly competitive firm should shut down or continue to o...

Economics (MindTap Course List)

Why is rent-seeking activity socially wasteful?

Microeconomics

Should the Fed be independent or a government agency subordinate to Congress and the president?

Economics For Today

Discuss the difference between traditional software models delivered by Application Service Providers (ASPs) an...

Purchasing and Supply Chain Management

Nine jobs need to be completed within eight weeks. The number of weeks required to complete each job is given i...

Practical Management Science

Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of Automotive Sol...

Survey of Accounting (Accounting I)

Why is it desirable to allocate variable costs and fixed costs separately?

Cornerstones of Cost Management (Cornerstones Series)

What is the primary purpose of the Employee Retirement Income Security Act (ERISA)?

PAYROLL ACCT.,2019 ED.(LL)-TEXT

Purchase-related transactions Journalize entries for the following related transactions of Lilly Heating Air C...

Corporate Financial Accounting

List the five sections typically found in a research article, and describe briefly what each should contain.

Research Methods for the Behavioral Sciences (MindTap Course List)

Please provide the following information for Problems 11-22. (a) What is the level of significance? State the n...

Understanding Basic Statistics

Determine whether each of the following hypotheses is testable and refutable. If not, explain why. a. Young chi...

Research Methods for the Behavioral Sciences (MindTap Course List)

A sample of n=16 scores has a mean of M=56and a standard deviation of s=12 . a. Explain what is measured by the...

Statistics for The Behavioral Sciences (MindTap Course List)

Weekly Demand at Whole Foods Market. The manager at a Whole Foods Market is responsible for managing store inve...

Essentials Of Statistics For Business & Economics

The authors of the paper Playing by the Rules: Parental Mediation of Video Game Play (Journal of Family Issues2...

Introduction To Statistics And Data Analysis

Which of the following statements is false regarding grouped frequency distribution tables? a. An interval widt...

Essentials of Statistics for The Behavioral Sciences (MindTap Course List)

GER Are senior citizens who live in retirement communities more socially active than those who live in age-inte...

Essentials Of Statistics

For what values of a and b is the following equation true? limx0(sin2xx3+a+bx2)=0

Single Variable Calculus

Given: Triangle ABC with three acute angles. Construct: BDAC, with D on AC.

Elementary Geometry for College Students

Calculate each expression in Exercises 124, giving the answer as a whole number or a fraction in lowest terms. ...

Applied Calculus

Sketch the region enclosed by the given curves and find its area. y=x1+x2, y=x9x2, x 0

Single Variable Calculus: Early Transcendentals

Review Exercises The diagonals of ABCD not shown are perpendicular. If one diagonal has a length of 10 and the ...

Elementary Geometry For College Students, 7e

Determine whether the statement is true or false. If it is true, explain why. If it is false, explain why or gi...

Calculus (MindTap Course List)

Let limxaf(x)=L. For 0 pictured at the right, what is the best choice for in the limit definition? a) p b) q c...

Study Guide for Stewart's Single Variable Calculus: Early Transcendentals, 8th

43. What is the maturity value of a $60,000 loan for 100 days at interest using the exact interest method?

Contemporary Mathematics for Business & Consumers

Finding Percentage, Percent, and Base in Practical Applications Solve the following problems. 19. An iron casti...

Mathematics For Machine Technology

The equation of the tangent plane to for is:

Study Guide for Stewart's Multivariable Calculus, 8th

In Exercises 1-6, let S={a,b,c,d,e,f} be a sample space of an experiment, and let E={a,b}, F={a,d,f} and G={b,c...

Finite Mathematics for the Managerial, Life, and Social Sciences

State a necessary and sufficient condition for the floor of a real number to equal that number.

Discrete Mathematics With Applications

For Problems 1-10, answer true or false. If a worker can lay 640 square feet of tile in 8 hours, we can say his...

Intermediate Algebra

Electric charge is distributed over the disk x2 + y2 1 so that the charge density at (x, y) is (x,y)=x2+y2 (me...

Multivariable Calculus

In Exercises 9-14, decide whether the specified values come from a linear, quadratic, exponential, or absolute ...

Finite Mathematics and Applied Calculus (MindTap Course List)

Convert between the two measurements. 7421 g = kg

Mathematical Excursions (MindTap Course List)

Determine the accuracy of each measurement; that is, give the number of significant digits for each measurement...

Elementary Technical Mathematics

Find the semi perimeter of triangle ABC. a=3ft,b=4ft,c=5ft

Trigonometry (MindTap Course List)

Finding the Volume of a Solid In Exercises 25-32, find the volume of the solid generated by revolving the regio...

Calculus of a Single Variable

13. Find the mean, variance, and standard deviation of the following sample data: 3, 2, 1, 5, 1, 4, 0, 2, 1, 1....

Mathematical Applications for the Management, Life, and Social Sciences

Finding Derivatives In Exercises 1-24, find the derivative of the function. See Examples 1, 2, 4, 5, and 8. f(x...

Calculus: An Applied Approach (MindTap Course List)

Calculate each expression in Exercises 124, giving the answer as a whole number or a fraction in lowest terms. ...

Finite Mathematics

Finding the Radius of Convergence In Exercises 9-14, find the radius of convergence of the power series. n=0(3x...

Calculus: Early Transcendental Functions

Complete Factorization A polynomial P is given. (a) Find all zeros of P, real and complex. (b) Factor P complet...

Precalculus: Mathematics for Calculus (Standalone Book)

Determining Convergence or Divergence In Exercises 9-30, determine the convergence or divergence of the series....

Calculus: Early Transcendental Functions (MindTap Course List)

Prove 227=01x4(1x)41+x2dx

Calculus (MindTap Course List)

ReminderRound all answers to two decimal places unless otherwise indicated. Number of WeddingsThe graph in Figu...

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

In Exercises 49 and 50, translate the two statements into symbolic form and use truth tables to determine wheth...

Mathematics: A Practical Odyssey

Calculate the value of the multiple integral. 22. DxydA, where D = {(x, y) | 0 y 1, y2 x y + 2}

Calculus: Early Transcendentals

Rationalize the denominator: a. 2x3y b. xx4

Applied Calculus for the Managerial, Life, and Social Sciences: A Brief Approach

Write an equation of the line with the given properties. Your answers should be written in slope-intercept form...

College Algebra (MindTap Course List)

Evaluate the integral. 10102exsinhx+coshxdx

Single Variable Calculus: Early Transcendentals, Volume I

Writing a Vector-Valued FunctionIn Exercises 1316, represent the line segment from P to Q by a vector-valued fu...

Multivariable Calculus

26. Suppose is a finite set with distinct elements given by . Assume that is closed under an associative bina...

Elements Of Modern Algebra

Two Population Means with Unknown Standard Deviations Use the following information to answer the next 15 exerc...

Introductory Statistics

3. Refer to Table 1.6.
What is the average cost for the tablets?
Compare the average cost of tablets with a Win...

Modern Business Statistics with Microsoft Office Excel (with XLSTAT Education Edition Printed Access Card) (MindTap Course List)

(a) Use binomial series to formally show that (12xt+t2)1/2=n=0Pn(x)tn. (b) Use the result obtained in part (a) ...

A First Course in Differential Equations with Modeling Applications (MindTap Course List)

A factory selling cell phones has a marginal cost function C(x)=0.01x23x+229 , where x represents the number of...

Calculus Volume 2