73. Real estate, two towns. Residents of neighboring towns in a state in the United States have...

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73. Real estate, two towns. Residents of neighboring towns in a state in the United States have an ongoing disagreement over who lays claim to the higher average price of a single-family home. Since you live in one of these towns, you decide to obtain a random sample of homes listed for sale with a major local realtor to investigate if there is actually any difference in the average home price.

a) Using the data provided on the CD, check the conditions for this test.

b) Write the null and alternative hypotheses for this test.

c) Test the hypothesis and find the P-value.

d) What is your conclusion?

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Business Statistics

ISBN: 9780321716095

2nd Edition

Authors: Norean D. Sharpe, Paul F. Velleman, David Bock, Norean Radke Sharpe

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