STATISTICS AND PROBABILITY (Please write the solution legibly. Rate will be given)A real estate agent compares the selling price of townhouses in two provinces to see if there is a difference in price. Test the claim that the average price of the townhouses in Laguna is higher than that in Cavite.CaviteLagunaMean = 2,140,000Mean = 1,970,000Sample Standard Dev = 200,000Sample Standard Dev = 198,000n = 22n = 21Don't need to conduct hypothesis tesing. Just state the correct/appropriate statistical treatment to be used. Justify the answer in paragraphs.

Choice of the correct inferential procedure is subject to more than one factor.

Answered: Don't need to conduct hypothesis…

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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STATISTICS AND PROBABILITY (Please write the solution legibly. Rate will be given)

A real estate agent compares the selling price of townhouses in two provinces to see if there is a difference in price. Test the claim that the average price of the townhouses in Laguna is higher than that in Cavite.

Cavite	Laguna
Mean = 2,140,000	Mean = 1,970,000
Sample Standard Dev = 200,000	Sample Standard Dev = 198,000
n = 22	n = 21

Don't need to conduct hypothesis tesing. Just state the correct/appropriate statistical treatment to be used. Justify the answer in paragraphs.

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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