Messages OO IDEAS Question 1 ideas.humber.ca/assess2/?cid=1017&aid=31033#/skip/1 Course Hero + G Q A real estate agent Laura Suarez was asked to analyze the one-bedroom condo prices in the GTA. She took a random sample of 9 condos in Old Mill and another random sample of 19 condos in Deer Park. The sample means (in $ thousands) are = 702 for Old Mill and 2 = 649 for Deer Park. Historically, the population standard deviations (in $ thousands) are = 40 for Old Mill and 2 = 89 for Deer Park. Could Laura Suarez claim at a 2% level of significance that the average price in Old Mill is higher than the average price in Deer Park? Use the z-test for independent samples and the formula, 2 st = (1 x2) (1 - 2) _2 02 n + n2 Note: The nature of the distributions and availability of 1 and 2 allow us to use z- approach, though both samples are comparatively small. (a) State the null and alternative hypotheses, and identify which one is the claim. Ho: Select an answer ? H: Select an answer ? Which one is the claim? H (b) Find the critical value(s). In the first box please indicate the sign(s), and in the second 28F Sunny Q Search > ENG UK 25 pts h 52mins x 10:18 AM 4/2/2023 Course Hero + G Messages OO IDEAS ideas.humber.ca/assess2/?cid=1017&aid=31033#/skip/1 (b) Find the critical value(s). In the first box please indicate the sign(s), and in the second box enter the numeric value. Note: Please, use the following table (do not use Excel) to answer the questions about critical value(s). Do not round the value and keep the number of decimal places as in the table. Table of za and za for most common a values 2 a za za 0.005 0.01 0.02 0.03 0.04 0.05 0.06 2.575 2.33 2.81 2.575 0.1 2.05 1.88 1.75 1.645 1.555 2.33 2.17 2.05 1.28 1.96 1.88 1.645 Critical Value(s) = ? (c) What is the test statistic? For part (c), use the correct sign for the test statistic and round your answer to 3 decimal places. 2st = (d) Does the test statistic fall into rejection region? ? (e) What is the short version of your conclusion (in terms of Ho and H)? O Fail to reject Ho and fail to support H (claim) O Reject Ho and fail to support H (claim) O Reject Ho and support H (claim) 28F Sunny Q Search H > ENG UK h 52mins x 10:18 AM 4/2/2023 Messages C Course Hero + G h 52mins x OO IDEAS ideas.humber.ca/assess2/?cid=1017&aid=31033#/skip/1 (d) Does the test statistic fall into rejection region? ? (e) What is the short version of your conclusion (in terms of Ho and H)? O Fail to reject Ho and fail to support H (claim) O Reject Ho and fail to support H (claim) O Reject Ho and support H (claim) O Fail to support Ho and reject H (claim) O Support Ho (claim) and support H (f) Select the correct statement. O At a 2% level of significance, the sample data support the claim that the average price in Old Mill is higher than the average price in Deer Park. Ol have an evidence that the average price in Old Mill is the same as the average price in Deer Park. OI proved that the average price in Old Mill is lower than the average price in Deer Park. At a 2% level of significance, there is not sufficient sample evidence to support the claim that the average price in Old Mill is higher than the average price in Deer Park. 28F Sunny T Q Search H > ENG UK ... 10:18 AM 4/2/2023