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A random sample of 9 recently sold homes in a local market collects the list price...

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Statistics

A random sample of 9 recently sold homes in a local marketcollects the list price and selling price for each house. Theprices are listed below in thousands of dollars. A group ofrealtors wants to test the claim that houses are selling for morethan the list price.

List Price490275289349460499325380299
Sell Price485275280360465490340395315

(a) Find d¯, the mean of the differences.

(b) State the claim, the negation of the claim, H0,and H1 (using equations and the parameter μd).

(c) Find the p-value. Use a significance level of α=.05 to testthe claim. State your conclusion about H0.

(d) State your conclusion about the original claim.

Answer & Explanation Solved by verified expert
4.2 Ratings (734 Votes)
a Let x represents thelist priceLet y represents the selling priceSerialNoxyd x    See Answer
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