Question
Reno 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
Reno 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 Reno is greater than the average home price in South Reno. To test this claim, she collects the selling price of 50 homes in Northwest Reno and South Reno and assumes the variances are equal.
Click here for the Excel data file
a. Specify the null and alternative hypotheses.
b. What are the values for the test statistic and p-value? (Round to 4decimal places)
c. At the 5% significance level, what are the decision and conclusion for thistest?
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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 |
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