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 .05 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 320 347 456 277 294 281 540 749 Employee 310 347 480 287 310 295 560 775 Click here for the Excel Data File (a) Choose the appropriate hypotheses. Assume d = company assessed value – employee assessed value. multiple choice 1 H0: μd = 0 versus H1: μd ≠ 0. H0: μd ≠ 0 versus H1: μd = 0. (b) State the decision rule for .05 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 > . (c-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 .05 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 | 320 | 347 | 456 | 277 | 294 | 281 | 540 | 749 |
Employee | 310 | 347 | 480 | 287 | 310 | 295 | 560 | 775 |
Click here for the Excel Data File
(a) Choose the appropriate hypotheses. Assume d = company assessed value – employee assessed value.
multiple choice 1
-
H0: μd = 0 versus H1: μd ≠ 0.
-
H0: μd ≠ 0 versus H1: μd = 0.
(b) State the decision rule for .05 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 > .
(c-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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