Answered step by step
Verified Expert Solution
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 |
- State the null and the alternative hypotheses to determine if the variance of house price in Houston is less than that in Orlando.
- 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
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