Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

BigDeal Real Estate surveyed prices per square foot in the valley and foothills of Hoke-a-mo, Utah. Based on BD's DATA, are prices per square foot

BigDeal Real Estate surveyed prices per square foot in the valley and foothills of Hoke-a-mo, Utah. Based on BD's DATA, are prices per square foot equal at = 0.01?

Valley Foothills

109 75

116 154

106 156

157 105

147 215

105 130

173 219

153 193

137 147

110 169

I BELIEVE IT is Option B. Can you confirm?

A.The critical value is 2.977 since this is a two-tail scenario. The test statistic is 1.936. Since the test statistic < the critical value, the test statistic does not lie in the area of rejection. Do not reject the null hypothesis. The prices per square foot are equal at alpha = .01

B.The critical value is 2.977 since this is a two-tail scenario. The test statistic is 1.513. Since the test statistic < the critical value, the test statistic does not lie in the area of rejection. Do not reject the null hypothesis. The prices per square foot are equal at alpha = .01

C.The critical value is 2.977 since this is a two-tail scenario. The test statistic is 3.207. Since the test statistic > the critical value, the test statistic does lie in the area of rejection. Reject the null hypothesis. The prices per square foot are not equal at alpha = .01

D.The critical value is 2.977 since this is a two-tail scenario. The test statistic is 2.239. Since the test statistic < the critical value, the test statistic does not lie in the area of rejection. Do not reject the null hypothesis. The prices per square foot are equal at alpha = .01

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

Birds Higher Engineering Mathematics

Authors: John Bird

9th Edition

1000353036, 9781000353037

More Books

Students also viewed these Mathematics questions