This past year, home prices in the Midwest increased by an average of 6.6%. A Realtor collects

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This past year, home prices in the Midwest increased by an average of 6.6%. A Realtor collects data on 36 recent home sales in the West. He finds an average increase in home prices of 7.5% with a standard deviation of 2%. Can he conclude that the average increase in home prices in the West is greater than the increase in the Midwest? Use a 5% significance level for the analysis.

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Business Analytics Communicating With Numbers

ISBN: 9781260785005

1st Edition

Authors: Sanjiv Jaggia, Alison Kelly, Kevin Lertwachara, Leida Chen

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