Answered step by step
Verified Expert Solution
Question
1 Approved Answer
To check for consistency, you have each of the two home appraisers in your office appraise the same randomly selected 10 homes. Is there evidence
To check for consistency, you have each of the two home appraisers in your office appraise the same randomly selected 10 homes. Is there evidence that Appraiser 1 appraises homes differently than Appraiser 2? Assume normality. Show all work when answering parts a-h.
Appraiser 1 | Appraiser 2 |
---|---|
102,000 | 104,000 |
98,000 | 94,000 |
178,700 | 169,700 |
238,000 | 213,000 |
158,000 | 155,000 |
92,000 | 88,000 |
112,500 | 116,500 |
289,000 | 276,000 |
138,000 | 128,000 |
165,000 | 173,000 |
- State the null and alternate hypothesis.
- Using the data provided, find the mean of the difference.
- What is the standard deviation of the difference?
- What is the value test statistic?
- What is the p-value?
- Interpret the p-value.
- Find a 95% confidence interval for the data.
- State your conclusion for the hypothesis test in context.
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