During an economic crisis, the average value of homes in a community of36homes lost$9284with a standard deviation of$1450.The average home value in the region lost$8790.Was this community of36homes unusual? Use a t-test to decide if the average loss observed was significantly different from the region value. Use a level of significanceα=0.05.Identify the hypotheses for the test. H0:μ▼ less than<greater than>equals=not equals≠nothingHA:μ▼ less than<not equals≠greater than>equals=nothingThe test statistic isnothing.(Round to two decimal places as needed.)The P-value isnothing.(Round to three decimal places as needed.)What is the conclusion of the test? Was the average loss observed significantly different from the region value? ▼ Fail to rejectRejectthe null hypothesis because the P-value is▼ greaterlessthan the given significance level, and conclude that the loss of home values in this community▼ doesdoes notappear to be unusual.

Name: During an economic crisis, the average value of homes in a community
Uploaded: 2024-03-20T07:07:12.000Z
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Description: During an economic crisis, the average value of homes in a community of36homes lost$9284with a standard deviation of$1450.The average home value in the region lost$8790.Was this community of36homes unusual? Use a t-test to decide if the average

Solution: Given information: n=36 Sample sizex= $9284 Sample mean s= $1450 Sample standard…

Answered: During an economic crisis, the average…

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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During an economic crisis, the average value of homes in a community of

homes lost

$9284

with a standard deviation of

$1450.

The average home value in the region lost

$8790.

Was this community of

homes unusual? Use a t-test to decide if the average loss observed was significantly different from the region value. Use a level of significance

α=0.05.

Identify the hypotheses for the test.

H0:	μ ▼ less than< greater than> equals= not equals≠ nothing
HA:	μ ▼ less than< not equals≠ greater than> equals= nothing

The test statistic is

nothing.

(Round to two decimal places as needed.)

The P-value is

nothing.

(Round to three decimal places as needed.)

What is the conclusion of the test? Was the average loss observed significantly different from the region value?

▼

Fail to reject

Reject

the null hypothesis because the P-value is

▼

greater

less

than the given significance level, and conclude that the loss of home values in this community

▼

does

does not

appear to be unusual.

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