Test 1 Winter 2022 - Google Chrome X mylab.pearson.com/Student/PlayerTest.aspx?testld=241544755¢erwin=yes Q Statistics for Analytics II Spring/Summer 2022B mar 1/1 X = Test: Test 1 Winter 2022 Question 18 of 25 This test: 25 point(s) possible This question: 1 point(s) possible Submit test The average house price in a country in 2010 was $333,600, according to a real estate organisation. Today, a consumer group randomly selected a sample of 50 house prices and found an average price of $425,220 with a standard deviation of $92,000. The group put out a press release saying "House prices have gone up by over 20% compared with 2010." Complete parts a and b. Use a significance level of a = 0.05. a) Have average house prices increased? State your hypotheses and calculate a P-value. State any assumptions you're making and whether they're likely to be true. Let u be the population mean average average house price in the country. Determine the null and alternative hypotheses. Ho: H V 333,600 HA: 1 V 333,600 The test statistic is (Round to two decimal places as needed.) The P-value is (Round to three decimal places as needed.) Draw a conclusion. Since the P-value is the value of a, the null hypothesis. There is evidence to conclude that average house prices have increased. State the assumptions and indicate whether they are likely to be true. Select all necessary and correct statements below. A. The Normal Population Assumption has been satisfied because the Nearly Normal Condition is true for these data B. The Independence Assumption has not been satisfied because the 10% Condition and/or the Randomization Condition are/is not true or verifiable for these data with the given information. It must be assumed that the prices in the sample are independent. C. The Normal Population Assumption has not been satisfied because the Nearly Normal Condition is not true or verifiable for these data with the given information. It must be assumed that the data in the sample come from a population that follows a Normal model. [D. The Independence Assumption has been satisfied because the 10% Condition and the Randomization Condition are both true for these data b) Calculate the 95% confidence interval for average house price in the country, assuming the conditions are satisfied. The 95% confidence interval is (] Time Remaining: 00:45:52 Next Type here to search O X 23.C Sunny ~ 9 4 X ENG 8:11 PM 99+ 2022-06-15 720