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 five 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: Hi-P2 = 0, Hại P1 – P2< 0, where ui = the true mean selling price of all comparable empty homes and P2 = the true mean selling price of all comparable staged homes. Are the conditions for inference met for carrying out a t- test for a difference in means? O No, the random condition is not met. No, the 10% condition is not met. O No, the Normallarge sample condition is not met. O Yes, all of the conditions for inference have been met.
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 five 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: Hi-P2 = 0, Hại P1 – P2< 0, where ui = the true mean selling price of all comparable empty homes and P2 = the true mean selling price of all comparable staged homes. Are the conditions for inference met for carrying out a t- test for a difference in means? O No, the random condition is not met. No, the 10% condition is not met. O No, the Normallarge sample condition is not met. O Yes, all of the conditions for inference have been met.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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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
five 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: Hi-P2 = 0, Hại P1 – P2< 0,
where ui = the true mean selling price of all
comparable empty homes and P2 = the true mean
selling price of all comparable staged homes. Are
the conditions for inference met for carrying out a t-
test for a difference in means?
O No, the random condition is not met.
No, the 10% condition is not met.
O No, the Normalarge sample condition is not
met.
O Yes, all of the conditions for inference have been
met.
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