Nashville home prices are continuing to increase with a 2021 average home price of $545,500. A real
Question:
Nashville home prices are continuing to increase with a 2021 average home price of $545,500. A real estate agent believes the average home price in Northwest Nashville is greater than the average home price in South Nashville. To test this claim, she collects the selling price of 50 homes in Northwest Nashville and South Nashville and assumes the variances are equal.
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Northwest | South |
638353 | 199484 |
590826 | 626195 |
644644 | 354982 |
702219 | 499839 |
978596 | 345864 |
866156 | 286088 |
706456 | 836086 |
692183 | 404875 |
940028 | 562985 |
570738 | 600402 |
608219 | 875040 |
385881 | 550356 |
565004 | 616965 |
985074 | 151263 |
46338 | 662745 |
915973 | 547798 |
425422 | 470227 |
591615 | 310292 |
668088 | 232867 |
975113 | 382787 |
371196 | 511372 |
923479 | 508917 |
449737 | 375838 |
684174 | 426327 |
738390 | 596276 |
453291 | 562353 |
370988 | 717967 |
742618 | 642617 |
453320 | 417752 |
289670 | 828152 |
443324 | 691487 |
457728 | 347101 |
593580 | 474312 |
341500 | 196268 |
774905 | 730910 |
729181 | 509974 |
721760 | 655395 |
506442 | 4862 |
406325 | 535479 |
638150 | 644248 |
341751 | 421209 |
888396 | 627654 |
571073 | 261015 |
742314 | 897452 |
815527 | 665376 |
433252 | 721188 |
669641 | 823623 |
818424 | 211852 |
650254 | 262309 |
457951 | 766659 |
a.Specify the null and alternative hypotheses.
H(O): __________?____________. ____?___. ____?____
H(A): ___________?___________ _____?___. _____?___
- What are the values for the test statistic and p-value?(Round to 4decimal places)
Test statistic = _____?___
p-value = _____?______
- At the 5% significance level, what are the decision and conclusion for thistest?
_____?___. ______?____. Therefore, we ____?______ conclude
__________________________?________________________