A certain company will purchase the house of any employee who is transferred out of state and will handle all details of reselling the house. The purchase price is based on two assessments, one assessor being chosen by the employee and one by the company. Based on the sample of eight assessments shown, do the two assessors agree? Use the .01 level of significance. Assessments of Eight Homes ($ thousands) Assessed by Home 1 Home 2 Home 3 Home 4 Home 5 Home 6 Home 7 Home 8 Company 326 347 453 270 300 285 537 742 Employee 320 345 471 284 300 290 524 762 a) State the decision rule for .01 level of significance. (Round your answers to 2 decimal places. A negative value should be indicated by a minus sign.) Reject the null hypothesis if tcalc < ____ or tcalc > ____ . (b-1) Find the test statistic tcalc. (Round your answer to 2 decimal places. A negative value should be indicated by a minus sign.) tcalc _______
A certain company will purchase the house of any employee who is transferred out of state and will handle all details of reselling the house. The purchase price is based on two assessments, one assessor being chosen by the employee and one by the company. Based on the sample of eight assessments shown, do the two assessors agree? Use the .01 level of significance.
Assessments of Eight Homes ($ thousands) | ||||||||
Assessed by | Home 1 | Home 2 | Home 3 | Home 4 | Home 5 | Home 6 | Home 7 | Home 8 |
Company | 326 | 347 | 453 | 270 | 300 | 285 | 537 | 742 |
Employee | 320 | 345 | 471 | 284 | 300 | 290 | 524 | 762 |
a) State the decision rule for .01 level of significance. (Round your answers to 2 decimal places. A negative value should be indicated by a minus sign.)
Reject the null hypothesis if tcalc < ____ or tcalc > ____ .
(b-1) Find the test statistic tcalc. (Round your answer to 2 decimal places. A negative value should be indicated by a minus sign.)
tcalc _______
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