Question: First time home buyers are an important segment of the
First time home buyers are an important segment of the housing market because this group allows current homeowners to sell their home and purchase another. In 2012, the median age of first time homebuyers was 31 years old. To find out if the housing market is improving, suppose the Federal Housing Administration would like to determine if the median age of first time buyers decreased in 2013. A random sample of first time buyers was collected and their ages were as follows.
Using α = 0.05, perform a hypothesis test to determine if the median age of first time buyers in 2013 was less than 31 years old.
Answer to relevant QuestionsAs a measure of productivity, Verizon Wireless records the number of customers each of its retail employees activates weekly. An activation is defined as either a new customer signing a cell phone contract or an existing ...Customers were asked if they prefer Product A or Product B. The results are as follows. Preference Number of Customers A ............ 28 B ............ 14 No preference ........ 8 Using α = 0.05, perform a hypothesis ...Suppose the U. S. Department of Education would like to determine if the median annual tuition for a fou ryear public college equaled $ 8,000 in 2014. A random sample of these colleges was selected and their annual tuitions ...The following data represent the times recorded by nine 100yard backstroke swimmers, in seconds, before and after they participated in a new training program. These data can also be found in the Excel file ...Suppose Starbucks would like to determine if the median age of its customers is 42. The ages of 50 randomly sampled customers were recorded in the following table. Customer’s Age Number of Customers Below 42 ...
Post your question