If a random sample of 17 homes south of a town has a mean selling price of $145,325 and a standard deviation of $4600, and a random sample of 22 homes north of a town has a mean selling price of $148,450 and a standard deviation of $5950, can you conclude that there is a significant difference between the selling price of homes in these two areas of the town at the 0.05 level? Assume normality. (a) Find t. (Round your answer to two decimal places.) (ii) Find the p-value. (Round your answer to four decimal places.)

If a random sample of 17 homes south of a town has a mean selling price of $145,325 and a standard deviation of $4600, and a random sample of 22 homes north of a town has a mean selling price of $148,450 and a standard deviation of $5950, can you conclude that there is a significant difference between the selling price of homes in these two areas of the town at the 0.05 level? Assume normality. (a) Find t. (Round your answer to two decimal places.) (ii) Find the p-value. (Round your answer to four decimal places.)

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Description: If a random sample of 17 homes south of a town has a mean selling price of$145,325 and a standard deviation of $4600, and a random sample of 22homes north of a town has a mean selling price of $148,450 and a standarddeviation of $5950, can you concl

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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After numerous studies, it is estimated that the age of college students follows a normal distribution with a mean of 20.7 years and a standard deviation of 1.8 years. A random sample of 16 college students is taken and the sample mean and sample standard deviation are found to be 21.5 years and 2.3 years, respectively. a.Is the sample average of 21.5 considered an outlier (in other words, what is the chance of getting a sample mean at least as large as 21.5 assuming μ and σ are correct)? b. The calculated value of the sample standard deviation is larger than σ, is 2.3 years enough larger than 1.8 that the estimate of σ does not seem reasonable? Use probability to support your conclusion c.No matter what you got for an answer in part b, assume we no longer trust σ = 1.8 to be valid. Calculate the same probability as you did in part a, but this time, assume that σ is unknown.
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