The amount of income spent on housing is an important component of the cost of living. The total costs of housing for homeowners might include mortgage payments, property taxes, and utility costs (water, heat, electricity). An economist selected a sample of 20 homeowners in New England and then calculated these total housing costs as a percent of monthly income, 5 years ago and now. The information is reported below. Is it reasonable to conclude the percent is less now than 5 years ago? HomeownerFive Years Ago Now Homeowner Five Years Ago Now1 17% 10% 11 35% 32%2 20 39 12 16 32 3 29 37 13 23 21 4 43 27 14 33 12 5 36 12 15 44 40 6 43 41 16 44 42 7 45 24 17 28 22 8 19 26 18 29 19 9 49 28 19 39 35 10 49 26 20 22 12 H0: μμ d ≤ 0 H1 : μμ d > 0 Click here for the Excel Data File State the decision rule for 0.05 significance level: H0: μd ≤ 0; H1: μd> 0. (Round your answer to 3 decimal places.) Compute the test statistic. (Round your answer to 3 decimal places.) Compute the p-value. (Round your answer to 3 decimal places.) State your decision about the null hypothesis. multiple choiceReject H0Do not reject H0 Next

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The amount of income spent on housing is an important component of the cost of living. The total costs of housing for homeowners might include mortgage payments, property taxes, and utility costs (water, heat, electricity). An economist selected a sample of 20 homeowners in New England and then calculated these total housing costs as a percent of monthly income, 5 years ago and now. The information is reported below. Is it reasonable to conclude the percent is less now than 5 years ago?

Homeowner	Five Years Ago		Now	Homeowner		Five Years Ago	Now
1		17	%		10	%		11	35	%	32	%
2		20			39			12	16		32
3		29			37			13	23		21
4		43			27			14	33		12
5		36			12			15	44		40
6		43			41			16	44		42
7		45			24			17	28		22
8		19			26			18	29		19
9		49			28			19	39		35
10		49			26			20	22		12

H₀: μμ _d ≤ 0 H₁ : μμ _d > 0

Click here for the Excel Data File

State the decision rule for 0.05 significance level: H₀: μ_d ≤ 0; H₁: μ_d> 0. (Round your answer to 3 decimal places.)

Compute the test statistic. (Round your answer to 3 decimal places.)

Compute the p-value. (Round your answer to 3 decimal places.)

State your decision about the null hypothesis.

multiple choice

Reject H₀
Do not reject H₀

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