The housing market has recovered slowly from the economic crisis of 2008. Recently, in one large community, realtors randomly sampled 32 bids fram potential buyers to estimate the average loss in home value. The sample showed the average loss was $8812 with a standard deviation of $1063. In 2011, the average home in this region of the country lost $8456 in value. Was the community studied by the realtors unusual? Use a t-test to decide if the average loss observed was significanty different from the regional average with 0.05 as the P-value cutoff level. ..... n-1 =16

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
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State the conclusion.
O A. Reject the null hypothesis. Conclude that the loss of home values in this community does not appear to be unusual.
O B. Fail to reject the null hypothesis. Conclude that the loss of home values in this community does appear to be unusual.
OC.. Fail to reject the null hypothesis. Conclude that the loss of home values in this community does not appear to be unusual.
ti
O D. Reject the null hypothesis. Conclude that the loss of home values in this community does appear to be unusual.
tic
Click to select your answer(s).
Transcribed Image Text:State the conclusion. O A. Reject the null hypothesis. Conclude that the loss of home values in this community does not appear to be unusual. O B. Fail to reject the null hypothesis. Conclude that the loss of home values in this community does appear to be unusual. OC.. Fail to reject the null hypothesis. Conclude that the loss of home values in this community does not appear to be unusual. ti O D. Reject the null hypothesis. Conclude that the loss of home values in this community does appear to be unusual. tic Click to select your answer(s).
The housing market has recovered slowly from the economic crisis of 2008. Recently, in one large community, realtors randomly sampled 32 bids from potential buyers
to estimate the average loss in home value. The sample showed the average loss was $8812 with a standard deviation of $1063. In 2011, the average home in this
region of the country lost $8456 in value. Was the community studied by the realtors unusual? Use a t-test to decide if the average loss observed was significanty
different from the regional average with 0.05 as the P-value cutoff level.
E
n-1=6
(Round to two decimal places as needed.)
Transcribed Image Text:The housing market has recovered slowly from the economic crisis of 2008. Recently, in one large community, realtors randomly sampled 32 bids from potential buyers to estimate the average loss in home value. The sample showed the average loss was $8812 with a standard deviation of $1063. In 2011, the average home in this region of the country lost $8456 in value. Was the community studied by the realtors unusual? Use a t-test to decide if the average loss observed was significanty different from the regional average with 0.05 as the P-value cutoff level. E n-1=6 (Round to two decimal places as needed.)
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