According to a high-profile realtor, houses in the sleepy town of Sun Beach have shown higher appreciation over the past three years than have houses in the bustling town of North Arden. To test the realtor's claim, an economist has found eleven recently sold homes in Sun Beach and eleven recently sold homes in North Arden that were owned for exactly three years. The following table gives the appreciation (expressed as a percentage increase) for each of the twenty-two houses. Appreciation rates in percent Sun Beach 8.7, 10.5, 12.3, 11.0,10.9, 10.2, 10.7, 10.3, 9.2, 10.2, 12.5 North Arden 13.1, 10.2, 10.8, 8.4, 10.4, 6.9, 14.9, 7.5, 6.8, 8.8, 9.2 Send data to calculator ♥ Assume that the two populations of appreciation rates are normally distributed and that the population variances are equal. Can we conclude, at the 0.05 level of significance, that houses in Sun Beach have higher appreciation over the past three years than houses in North Arden? Perform a one-tailed test. Then fill in the table below. Carry your intermediate computations to at least three decimal places and round your answers as specified in the table. (If necessary, consult a list of formulas.) The null hypothesis: # :0 The alternative hypothesis: D=0 OSO The type of test statistic: (Choose one) v O

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section6.1: Exponential Functions

Problem 3SE: The Oxford Dictionary defines the word nominal asa value that is “stated or expressed but...

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Transcribed Image Text:According to a high-profile realtor, houses in the sleepy town of Sun Beach have shown higher appreciation over the past three years than have houses in the bustling town of North Arden. To test the realtor's claim, an economist has found eleven recently sold homes in Sun Beach and eleven recently sold homes in North Arden that were owned for exactly three years. The following table gives the appreciation (expressed as a percentage increase) for each of the twenty-two houses. Appreciation rates in percent Sun Beach 8.7, 10.5, 12.3, 11.0, 10.9, 10.2, 10.7, 10.3, 9.2, 10.2, 12.5 North Arden 13.1, 10.2, 10.8, 8.4, 10.4, 6.9, 14.9, 7.5, 6.8, 8.8, 9.2 Send data to calculator v Assume that the two populations of appreciation rates are normally distributed and that the population variances are equal. Can we conclude, at the 0.05 level of significance, that houses in Sun Beach have higher appreciation over the past three years than houses in North Arden? Perform a one-tailed test. Then fill in the table below. Carry your intermediate computations to at least three decimal places and round your answers as specified in the table. (If necessary, consult a list of formulas.) H, :0 p The null hypothesis: The alternative hypothesis: O=0 OSO The type of test statistic: (Choose one) The value of the test statistic: (Round to at least three decimal places.) The critical value at the 0.05 level of significance: (Round to at least three decimal places.) Can we conclude that houses in Sun Beach have higher appreciation over the past three years than houses in North Arden? O Yes O No Ix

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