74. Real estate, two towns, bigger sample. Residents of one of the towns discussed in Exercise 73...
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74. Real estate, two towns, bigger sample. Residents of one of the towns discussed in Exercise 73 claim that since their town is much smaller, the sample size should be increased.
Instead of random sampling 30 homes, you decide to sample 42 homes from the database to test the difference in the mean price of single-family homes in these two towns.
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? Did the sample size make a difference?
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Related Book For
Business Statistics
ISBN: 9780321716095
2nd Edition
Authors: Norean D. Sharpe, Paul F. Velleman, David Bock, Norean Radke Sharpe
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