A bank employs two appraisers. When approving borrowers for mortgages, it is imperative that the appraisers value the same types of properties consistently. To make sure that this is the case, the bank asks the appraisers to value 10 different properties. A portion of the data sis shown in the following table.

Property....................... Value from Appraiser 1............ Value from Appraiser 2

1................................................... $235,000................................ $239,000

2................................................... 195,000................................... 190,000

⋮...................................................... ⋮.................................................. ⋮

10................................................. 575,000.................................... 583,000

a. Specify the competing hypotheses to determine whether the median difference between the values from appraiser 1 and appraiser 2 differs from zero.

b. Calculate the value of the test statistic T. Assume the normal approximation for T.

c. Calculate the p-value.

d. At the 5% significance level, is there sufficient evidence to conclude that the appraisers are not consistent in their appraisals? Explain.