A real estate agent believes that the mean home price in the northern part of a county is higher than the mean price in the southern part of the county and would like to test the claim. A simple random sample of housing prices is taken from each region. The results are shown below. Mean Variance Observations Pooled Variance Hypothesized Mean Difference df t Stat P(T<=t) one-tail t Critical one-tail P(T<=t) two-tail t Critical two-tail Confidence Level Southern Northern 155.056 168.889 345.938 560.928 18 18 453.433 0 34 1.949 0.030 2.441 0.060 2.728 99% ↑ T 0 p = Ex: 1.234 1 2 t = Ex: 1.234

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A real estate agent believes that the mean home price in the northern part of a county is higher than the mean
price in the southern part of the county and would like to test the claim. A simple random sample of housing
prices is taken from each region. The results are shown below.
Mean
Variance
Observations
Pooled Variance
Hypothesized Mean Difference
df
t Stat
P(T<=t) one-tail
t Critical one-tail
P(T<=t) two-tail
t Critical two-tail
Confidence Level
n = Ex: 9
Southern Northern
155.056 168.889
345.938 560.928
18
18
453.433
0
34
1.949
0.030
2.441
0.060
2.728
99%
-3
Ń
Degrees of freedom: df =
Point estimate for the southern part of the county: s=
Point estimate for the northern part of the county: N =
T
0
= Ex: 1.234
P = Ex: 1.234
2
t Ex: 1.234
Transcribed Image Text:A real estate agent believes that the mean home price in the northern part of a county is higher than the mean price in the southern part of the county and would like to test the claim. A simple random sample of housing prices is taken from each region. The results are shown below. Mean Variance Observations Pooled Variance Hypothesized Mean Difference df t Stat P(T<=t) one-tail t Critical one-tail P(T<=t) two-tail t Critical two-tail Confidence Level n = Ex: 9 Southern Northern 155.056 168.889 345.938 560.928 18 18 453.433 0 34 1.949 0.030 2.441 0.060 2.728 99% -3 Ń Degrees of freedom: df = Point estimate for the southern part of the county: s= Point estimate for the northern part of the county: N = T 0 = Ex: 1.234 P = Ex: 1.234 2 t Ex: 1.234
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