Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The sales price (in $1,000) of three-bedroom apartments in two citiesHouston, Texas, and Orlando, Floridaare given in the following table. Houston is known to have

The sales price (in $1,000) of three-bedroom apartments in two citiesHouston, Texas, and Orlando, Floridaare given in the following table. Houston is known to have lower house prices than Orlando; however, it is not clear if it also has lesser variability in its prices.

Houston 189 145 220 205 225 275 248 310 150 318
Orlando 301 279 224 400 249 205 289 350 218 300

  1. State the null and the alternative hypotheses to determine if the variance of house price in Houston is less than that in Orlando.
  2. What assumption regarding the population is necessary to implement this step?

Test the hypothesis at = 0.05. What is your conclusion?

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

Step: 3

blur-text-image

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

Interconnection Networks

Authors: J C Bermond

1st Edition

1483295273, 9781483295275

More Books

Students also viewed these Mathematics questions

Question

1. To gain knowledge about the way information is stored in memory.

Answered: 1 week ago