Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Q9: Please complete Parts 1-4. Round answers as needed. During an economic crisis, the average value of homes in a community of 36 homes lost

image text in transcribedimage text in transcribed

Q9: Please complete Parts 1-4. Round answers as needed.

image text in transcribedimage text in transcribedimage text in transcribed
During an economic crisis, the average value of homes in a community of 36 homes lost $9294 with a standard deviation of $1450. The average home value in the region lost $8740. Was this community of 36 homes unusual? Use a t-test to decide if the average loss observed was significantly different from the region value. Use a level of significance a = 0.05. Identify the hypotheses for the test. Ho: H HA: HThe tsst statistic is D. {Round to Me decimal places as needed.) The P-tialue is D. (Round to three decimal places as needed.) What is the conclusion of the test? Was the average loss observed significantly different from the region value? the null hypothesis because the P-value is than the given significance level, and conclude that the loss of home values in this community appear to be unusual

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

Geometry, Structure And Randomness In Combinatorics

Authors: Ji?í Matousek, Jaroslav Nešet?il, Marco Pellegrini

1st Edition

887642525X, 9788876425257

More Books

Students also viewed these Mathematics questions