Refer to the CREA (Canadian Real Estate Association) data, which include information on average house prices nationally and in a selection of cities across Canada. Select the cities only.

The Canadian Real Estate Association compiles the statistics of existing homes and propertires sold through the Multiple Listing Service
system.  The website is: www.crea.ca					Data updated Feb 2014
			Average House Prices
City	Jan-14	Jan-13	Jan-12	Jan-11	Jan-10	Jan-09	Jan-08	Jan-07	Jan-06	Jan-05	Jan-04
Victoria	491,772	421,939	454,905	486,384	509,514	431,312	505,899	444,118	479,164	433,939	378,723
Vancouver	812,536	748,651	752,380	762,562	637,637	536,162	588,183	530,695	457,374	387,426	354,135
Calgary	444,153	418,938	382,468	394,655	382,009	362,143	408,672	375,746	289,130	241,290	219,774
Edmonton	343,345	323,541	317,995	315,483	314,783	317,049	332,051	303,820	199,148	183,189	170,960
Regina	335,213	299,700	284,744	260,133	240,274	227,818	198,585	117,468	132,091	115,693	113,437
Saskatoon	332,133	320,812	309,828	300,353	270,191	278,545	258,444	190,028	149,923	142,741	130,169
Winnipeg	262,683	248,720	237,832	229,716	213,134	177,718	174,902
Toronto	526,528	482,648	463,534	427,159	409,058	343,632	374,449	353,724	332,670	334,254	310,190
Hamilton	386,451	349,943	334,106	325,732	288,397	264,549	278,189	255,753
Ottawa	348,001	343,382	349,525	329,640	323,762	290,930	285,736	260,898	245,787	240,533	229,313
Montreal	318,374	313,381	311,099	294,564	284,384	256,432	247,013		204,920	193,669	176,992
Quebec City	260,721	264,762	247,326	240,717	224,088	202,977	181,421		142,463	138,522	125,066
Fredericton	170,771	164,766	159,302	143,876	163,824	155,520	144,884	129,764	136,428	130,036	119,333
Saint John	176,351	148,320	161,163	171,788	168,439	142,218	165,258	143,971	129,164	118,890	123,552
Halifax	264,780	291,044	259,395	252,141	241,968	242,861	218,505	197,246	192,562	183,188	169,320
St John's	333,429	329,528								134,188	130,833

a. At the 0.01 significance level, can we conclude that the mean list price for January 2014 is more than January 2013? Compute the value of the test statistic and state the decision regarding the null hypothesis. (Round the final answer to 2 decimal places.)

 

Value of the test statistic

The decision is   (Click to select)   to reject   not to reject  H ₀ .

 

b. What is the p -value? (Round the final answer to 4 decimal places.)

 

Value of the test statistic

Answer rating: 100% (QA)

test static z0395... View the full answer