According to the National Association of Realtors, it took an average of three weeks
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According to the National Association of Realtors, it took an average of three weeks to sell a home in 2017. Suppose data for the sale of 39 randomly selected homes sold in Greene County, Ohio, in 2017 showed a sample mean of 3.6 weeks with a sample standard deviation of 2 weeks. Conduct a hypothesis test to determine whether the number of weeks until a house sold in Greene County differed from the national average in 2017. Use
α = 0.05
for the level of significance, and state your conclusion.
(a)
State the null and alternative hypothesis. (Enter != for ≠ as needed.)
H0:
Ha:
(b)
Find the value of the test statistic. (Round your answer to three decimal places.)
Find the p-value. (Round your answer to four decimal places.)
p-value =
(c)
State your conclusion.
Reject H0. There is a statistically significant difference between the national average time to sell a home and the mean time to sell a home in Greene County.
Do not reject H0. There is a statistically significant difference between the national average time to sell a home and the mean time to sell a home in Greene County.
Do not reject H0. There is not a statistically significant difference between the national average time to sell a home and the mean time to sell a home in Greene County.
Reject H0. There is not a statistically significant difference between the national average time to sell a home and the mean time to sell a home in Greene County.
[Solved] According to the National Association of Realtors, it took an average of three weeks
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- Submitted On 14 Jul, 2020 05:35:42
- Beam777
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