Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 5 (4 points) Saved Suppose you sample housing sale prices from North York and Markham. From the sample of 15 homes from North York,
Question 5 (4 points) Saved Suppose you sample housing sale prices from North York and Markham. From the sample of 15 homes from North York, the mean is $615,000 and the standard deviation is $30,000.The sample of 15 homes from Markham has a mean of $655,000 and a standard deviation of $80,000. You want to test to see if Markham homes are more expensive than North York homes, on average. Answer the following questions in the blanks below. Use two decimal places. [4 points] 1. State the null and alternative hypothesis (if you are inclined to take a difference, subtract North York FROM Markham, i.e. markham - north york). (To avoid having to type subscripts or symbols, in the space provided, write your answer in words. For example null: mu equals x, alternative: mu is greater than/less thanot equal to x. On the sheet you will submit for your written work, write it out as we have been doing in class) 2. What is the value of the test statistic? 3. What is the critical value associated with a significance level of 0.01? 4. What can you conclude about your hypothesis test? Why? (in your written work be sure to show how you are arriving at this conclusion
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