Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Consider the following sample of houses collected from two neighbourhoods. It is presumed that both samples have the same population standard deviation. Sample from area
Consider the following sample of houses collected from two neighbourhoods. It is presumed that both samples have the same population standard deviation.
Sample from area 1 of House prices in $1000s of dollars | Sample from area 2 of House prices in $1000s of dollars | |||||||||
677 | 695 | 806 | 1011 | 564 | 867 | 795 | 906 | 1011 | 514 | |
1156 | 399 | 772 | 630 | 1114 | 1258 | 449 | 862 | 865 | 1104 | |
1144 | 507 | 516 | 613 | 706 | 1547 | 457 | 546 | 723 | 602 | |
877 | 1146 | 656 | 753 | 548 | 698 | 1148 | 1693 | 653 | 501 | |
445 | 579 | 500 | 581 | 664 | 545 | 669 | 626 | 851 | 592 | |
826 | 956 | 1146 | 680 | 886 | 816 | 1096 | 1156 | 860 | 908 | |
746 | 1146 | 481 | 747 | 477 | 951 | 1256 | 594 | 760 | 505 |
- Based on the information - are these dependent or independent samples? Briefly explain.
- Using the 5 step hypothesis test procedure. Test at the ten percent level if the average value of houses in area two is greater than the average value in area 1.
- Would your results have changed if you had tested at a five percent level? Would it be ethical to go back and update your significance level if you wanted to prove one outcome over another? Briefly rationalize.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started