(Round all intermediate calculations to at least 4 decimal places.) 14 An entrepreneur owns some land that he wishes to develop. He identifies two development
(Round all intermediate calculations to at least 4 decimal places.) 14 An entrepreneur owns some land that he wishes to develop. He identifies two development options: build condominiums or build apartment buildings. Accordingly, he reviews public records and derives the following summary measures concerning annual profitability based on a random sample of 34 for each such local business ventures. For the analysis, he uses a historical (population) standard deviation of $21,900 for condominiums and $19,600 for apartment buildings. (You may find it useful to reference the 3 appropriate table: z table or t table) points Sample 1 represents condominiums and Sample 2 represents apartment buildings. eBook Apartment Print Condominiums Buildings X1 = $252, 000 X2 = $235, 600 References n1 = 34 = 34 a. Set up the hypotheses to test whether the mean profitability differs between condominiums and apartment buildings. O HO : M1 - 12 = 0 ; HA: M1 - 12 = 0 O HO : M1 - 12 20 ; HA: M1 - 12 0 b. Calculate the value of the test statistic. (Round your answer to 2 decimal places.) Test statistic3 c. Find the p-value. points O p-value
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