Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A real estate agent believes that the mean home price in the northern part of a county is higher than the mean price in the

A real estate agent believes that the mean home price in the northern part of a county is higher than the mean price in the southern part of the county and would like to test the claim. A simple random sample of housing prices is taken from each region. The results are shown below.

Southern Northern

Mean 155.056 168.889

Variance 345.938 560.928

Observations 18 18

Pooled Variance 453.433

Hypothesized Mean Difference 0

df 34

t Stat 1.949

P(T<=t) one-tail 0.030

t Critical one-tail 2.441

P(T<=t) two-tail 0.060

t Critical two-tail 2.728

Confidence Level 99%

Answer the following;

n=

Point estimate for the southern part of the county: xS=

Degrees of freedom: df=

p=

t=

Point estimate for the northern part of the county: xN=

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Differential Equations With Boundary-Value Problems

Authors: Dennis G Zill

9th Edition

133751506X, 9781337515061

More Books

Students also viewed these Mathematics questions

Question

Locate the centroid of the plane area shown. 16 mm 6 mm 6 mm 12 mm

Answered: 1 week ago