Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. basic math
  3. the percentage of income spent on housing (includi

The percentage of income spent on housing (including mortgage/rent, taxes, utilities) is an important factor loan...

70.2K

Verified Solution

Question

Basic Math

The percentage of income spent on housing (includingmortgage/rent, taxes, utilities) is an important factor loan agentsuse in approving customers for mortgages. A researched selected asample of 20 homeowners in Florida and calculated their totalhousing costs are a percent of their monthly income. The researchercollected this information from the same 20 homeowners 5 years agoand again in 2019. The information collected is in the attachedExcel data file. Is it reasonable to conclude the percent is lessnow than five years ago? Use a two-sample test of hypothesis todetermine your answer. Explain and show your work, including the 6steps for hypothesis testing.

HomeownerFive Years AgoNow
Holt1710
Pierse2039
Merenick2937
Lanoue4327
Fagan3612
Bobko4341
Kippert4524
SanRoman1926
Kurimsky4928
Davison4926
Lozier3532
Cieslinski1632
Rowatti2321
Koppel3312
Rumsey4440
McGinnis4442
Pierce2822
Roll2919
Lang3935
Miller2212

Answer & Explanation Solved by verified expert
4.2 Ratings (702 Votes)
Let be the meanhousing cost before five years ago and    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Physics
1.2K views

45 Total no of voids in 0 5 mole of a compound formin closed packed...

Psychology
1.2K views

Describe the major theories that attempt to explain racism

General Management
1.2K views

Explain the formula B=f (P+E). (1/2 to 1 page) With regard to the Continuum of Internality,...

Biology
1.2K views

Much of the 20th century was marked by the Cold War between the ideals of...

Biology
1.2K views

In a H W question about a recessive trait calculate first A 2pq B p2...

Basic Math
1.2K views

Troy opened a savings account and deposited $300.00. The account earns 6% interest,compounded annually. If...

Statistics
1.2K views

4 18 Matching Pick the letter of the graph that goes with each numerical value...

Algebra
1.2K views

The length of a rectangle is 5 m more than twice the width and the...

Accounting
1.2K views

Main findings? Implications? Future research direction? Conclusions? Accuracy, Confidence, and Juror Perceptions in Eyewitness...

Accounting
1.2K views

What is Reshoring and does it give advantage to foreign country?

Accounting
1.2K views

Support department cost allocation-sequential method Martay Creations produces winter scarves. The scarves are produced in...

Accounting
1.2K views

How might formal institutional factors and informal institutional factors influence the regulatory and voluntary accounting...