3. All house sales transactions (in R1000) concluded in two cities during a particular week are checked. The selling price of each house is noted. The following information is obtained: Town A nį = 51 = 13585 Town B n2 = 34 X2 = 13600 ož = 1024 %3D of = 1024 %3D

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3. All house sales transactions (in R1000) concluded in two cities during a particular week are
checked. The selling price of each house is noted. The following information is obtained:
Town A
Town B
n = 51
n2 = 34
X2 = 13600
of = 1024
X = 13585
of
= 1024
Transcribed Image Text:3. All house sales transactions (in R1000) concluded in two cities during a particular week are checked. The selling price of each house is noted. The following information is obtained: Town A Town B n = 51 n2 = 34 X2 = 13600 of = 1024 X = 13585 of = 1024
Is it true that, on average the houses in town B are cheaper than the one in town A at 1% level of
significance? Calculate the p-value for this test. Assume that samples are drawn from a normal
population.
Transcribed Image Text:Is it true that, on average the houses in town B are cheaper than the one in town A at 1% level of significance? Calculate the p-value for this test. Assume that samples are drawn from a normal population.
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