Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Nashville home prices are continuing to increase with a 2021 average home price of $545,500. A real estate agent believes the average home price in

Nashville home prices are continuing to increase with a 2021 average home price of $545,500. A real estate agent believes the average home price in Northwest Nashville is greater than the average home price in South Nashville. To test this claim, she collects the selling price of 50 homes in Northwest Nashville and South Nashville and assumes the variances are equal.

Click here for the Excel data file

Northwest

South

638353

199484

590826

626195

644644

354982

702219

499839

978596

345864

866156

286088

706456

836086

692183

404875

940028

562985

570738

600402

608219

875040

385881

550356

565004

616965

985074

151263

46338

662745

915973

547798

425422

470227

591615

310292

668088

232867

975113

382787

371196

511372

923479

508917

449737

375838

684174

426327

738390

596276

453291

562353

370988

717967

742618

642617

453320

417752

289670

828152

443324

691487

457728

347101

593580

474312

341500

196268

774905

730910

729181

509974

721760

655395

506442

4862

406325

535479

638150

644248

341751

421209

888396

627654

571073

261015

742314

897452

815527

665376

433252

721188

669641

823623

818424

211852

650254

262309

457951

766659

a.Specify the null and alternative hypotheses.

H(O): __________?____________. ____?___. ____?____

H(A): ___________?___________ _____?___. _____?___

  1. What are the values for the test statistic and p-value?(Round to 4decimal places)

Test statistic = _____?___

p-value = _____?______

  1. At the 5% significance level, what are the decision and conclusion for thistest?

_____?___. ______?____. Therefore, we ____?______ conclude

__________________________?________________________

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_2

Step: 3

blur-text-image_3

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

Mathematical Interest Theory

Authors: Leslie Jane, James Daniel, Federer Vaaler

3rd Edition

147046568X, 978-1470465681

More Books

Students also viewed these Mathematics questions

Question

6. Define a collection of events E a , 0 Answered: 1 week ago

Answered: 1 week ago

Question

4. Prove Corollary 2.1.

Answered: 1 week ago