Answered: According to a high-profile realtor,…

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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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 thirteen recently sold homes in Sun Beach and thirteen 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-six houses.

Appreciation rates in percent

Sun Beach

13.4, 11, 14, 10.7, 7.8, 11.4, 12.5, 7.7, 5.8, 10.5, 13.8, 10.7, 12.6

North Arden

8.2, 7.6, 8.7, 7.3, 6.8, 14.6, 7.8, 8.4, 9, 10.1, 12.1, 8.3, 6.6

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Assume that the two populations of appreciation rates are normally distributed and that the population variances are equal. Can we conclude, at the

0.01

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:	H0:
The alternative hypothesis:	H1:
The type of test statistic:	(Choose one)ZtChi squareF

The value of the test statistic: (Round to at least three decimal places.)
The p-value: (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?	Yes	No

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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