During an economic crisis, the average value of homes in a community of36homes lost$9445with a standard deviation of$1300.The average home value in the region lost$8990.Was this community of36homesunusual? 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▼ not equals≠equals=greater than>less than<nothingHA:μ▼ equals=greater than>not equals≠less than<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? ▼ RejectFail to rejectthe 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
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Description: During an economic crisis, the average value of homes in a community of36homes lost$9445with a standard deviation of$1300.The average home value in the region lost$8990.Was this community of36homesunusual? Use a t-test to decide if the average l

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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

$9445

with a standard deviation of

$1300.

The average home value in the region lost

$8990.

Was this community of

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

▼

Reject

Fail to 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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