Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The sample standard deviations and sample sizes are given for independent simple random samples from two populations. Use the two-standard-deviations F-test to conduct the required

The sample standard deviations and sample sizes are given for independent simple random samples from two populations. Use the two-standard-deviations F-test to conduct the required hypothesis test. Two real estate companies, Century 21 and RE/MAX, compete with one another in a local market. The manager of the Century 21 office would like to test the hypotheses that the standard deviation for the number of days that houses listed with RE/MAX is lower than the standard deviation for homes that listed with Century 21. The following data summarizes the sample statistics for the number of days that houses are on the market for both companies.

Century 21

RE/MAX

Sample standard deviation 32.9 25.2
Sample size 61 31

Test the hypothesis using = 0.01 a) Find a 95%confidence interval of standard deviation for Century 21. b) Conduct a test of the hypothesis that the variance for Century 21 is more than that for RE/MAX, at 99% confidence level. Show all parts of the hypothesis test, including your hypothesis, your test-statistic calculation and p-value calculations,and 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

Principles Of Topology

Authors: Fred H Croom

1st Edition

0486810445, 9780486810447

More Books

Students also viewed these Mathematics questions

Question

Graph the function. f(x) = -e -x

Answered: 1 week ago