MATLAB: An Introduction with Applications
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ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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A real-estate agent conducted an experiment to test the effect of selling a staged home vs. selling an empty home. To do so, the agent obtained a list of 10 comparable homes just listed for sale that were currently empty. He randomly assigned 5 of the homes to be "staged,” meaning filled with nice furniture and decorated. The owners of the 5 homes all agreed to have their homes staged by professional decorators. The other 5 homes remained empty. The hypothesis is that empty homes are not as appealing to buyers as staged homes and, therefore, sell for lower prices than staged homes. The
The agent tests H0: μ1 – μ2 = 0, Ha: μ1 – μ2 < 0, where μ1 = the true mean selling price of all comparable empty homes and μ2 = the true mean selling price of all comparable staged homes. The conditions for inference are met. What are the values of the test statistic and P-value for a t-test about a difference in means?
Find the t-table here.
.The P-value is between 0.10 and 0.15.
.The P-value is between 0.20 and 0.30.
.The P-value is between 0.10 and 0.15.
.The P-value is between 0.20 and 0.30.
Transcribed Image Text:150,000 175,000
22,000²
35,000²
5
5
0.10 and 0.15.
Ot=
150,000
22,0002
5
0.20 and 0.30.
Ot=
175,000
35,000²
5
.The P-value is between
.The P-value is between
Transcribed Image Text:A real-estate agent conducted an experiment to test
the effect of selling a staged home vs. selling an empty
home. To do so, the agent obtained a list of 10
comparable homes just listed for sale that were
currently empty. He randomly assigned 5 of the homes
to be "staged," meaning filled with nice furniture and
decorated. The owners of the 5 homes all agreed to
have their homes staged by professional decorators.
The other 5 homes remained empty. The hypothesis is
that empty homes are not as appealing to buyers as
staged homes and, therefore, sell for lower prices than
staged homes. The mean selling price of the 5 empty
homes was $150,000 with a standard deviation of
$22,000. The mean selling price of the 5 staged homes
was $175,000 with a standard deviation of 35,000. A
dotplot of each sample shows no strong skewness and
no outliers.
The agent tests Ho: H₁ H₂ = 0, Hai H₁ - H₂ <0, where
the true mean selling price of all comparable
empty homes and ₂ = the true mean selling price of
all comparable staged homes. The conditions for
inference are met. What are the values of the test
statistic and P-value for a t-test about a difference in
means?
Find the t-table here.
H1
=
t =
150,000 175,000
22,0002 35,000²
5
5
0.10 and 0.15.
O t =
+
150,000 175,000
22,0002 35,000²
5
5
0.20 and 0.30.
+
.The P-value is between
.The P-value is between
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