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If a random sample of 20 homes south of a town has a mean selling price of $145,175 and a standard deviation of $4825, and a random sample of 20 homes north of a town has a mean selling price of $148,650 and a standard deviation of $5950, can you conclude that there is a significant difference between the selling price of homes in these two areas of the town at the 0.05 level? Assume normality.

If a random sample of 20 homes south of a town has a mean selling price of $145,175 and a standard deviation of $4825, and a random sample of 20 homes north of a town has a mean selling price of $148,650 and a standard deviation of $5950, can you conclude that there is a significant difference between the selling price of homes in these two areas of the town at the 0.05 level? Assume normality.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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If a random sample of 20 homes south of a town has a mean selling price of $145,175 and a standard deviation of $4825, and a random sample of 20 homes north of a town has a mean selling price of $148,650 and a standard deviation of $5950, can you conclude that there is a significant difference between the selling price of homes in these two areas of the town at the 0.05 level? Assume normality. (a) Find t. (Round your answer to two decimal places.) (ii) Find the p-value. (Round your answer to four decimal places.) (b) State the appropriate conclusion. O Reject the null hypothesis. There is significant evidence of a difference in means. Fail to reject the null hypothesis. There is not significant evidence of a difference in means. Reject the null hypothesis. There is not significant evidence of a difference in means. O Fail to reject the null hypothesis. There is significant evidence of a difference in means.
Transcribed Image Text:If a random sample of 20 homes south of a town has a mean selling price of $145,175 and a standard deviation of $4825, and a random sample of 20 homes north of a town has a mean selling price of $148,650 and a standard deviation of $5950, can you conclude that there is a significant difference between the selling price of homes in these two areas of the town at the 0.05 level? Assume normality. (a) Find t. (Round your answer to two decimal places.) (ii) Find the p-value. (Round your answer to four decimal places.) (b) State the appropriate conclusion. O Reject the null hypothesis. There is significant evidence of a difference in means. Fail to reject the null hypothesis. There is not significant evidence of a difference in means. Reject the null hypothesis. There is not significant evidence of a difference in means. O Fail to reject the null hypothesis. There is significant evidence of a difference in means.
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