16. FILE (Use Excel) A realtor in Mission Viejo, California, b e l ie v e s...
Question:
16. FILE (Use Excel) A realtor in Mission Viejo, California, b e l ie v e s that th e s tandard dev ia t ion o f h o u s e prices is mo r e th an 100 units, w h e r e e a ch uni t eq u a l s $ 1 ,0 0 0 . A s sume h o u s e prices are normal ly distributed.
a. State th e null and th e alternat ive h y p o th e s e s for th e te s t .
b. Op en th e Mission Viejo (raw) data from th e te x t w e b s i t e into an Excel sp r e a d sh e e t (data are in $1,000s ) . Calculate th e v a lu e o f th e t e s t statistic.
c. Use Excel's fu n c t ion (either CHISQ.DIST.RT or CHISQ.DIST)
to c a lculate th e p -value.
d. At α = 0.05 w h a t is th e c onc lus ion? Is th e realtor's claim su p p o r t e d by th e data?
Step by Step Answer:
Business Statistics Communicating With Numbers
ISBN: 9780071317610
1st Edition
Authors: Kelly Jaggia