Question

The Metro Real Estate Association is preparing a pamphlet that they feel might be of interest to prospective home buyers in the Southlake and Northwood areas of the city. One item if interest is the length of time the seller occupied the home. A sample of 17 homes sold recently in Southlake revealed that the mean length of ownership was 9.2 years with a standard deviation of 2.9 years. A sample of 15 homes in Northwood revealed that the mean length of ownership was 7.4 years with a standard deviation of 2.1 years. Can we conclude that the Southlake residents owned their homes for a longer period of time compare to residents in the Northwood area? What is the test statistics? α = 0.05.

Group of answer choices

t=2.192

t=1.986

z=2.0

t=2.492

Answer 1

Griven 2 n = 17 na = 15 Ho: Mi Ha M, <f2 . 2 = 9.2 2 = 7.4 (S), & -0.05 - 2.9 2.1 ( S2 t-test for independent means t - se, – de tn, th2-2 -2 (n-1) 5.' +Ch2-15, Itt hitha - 2 q-2 – 7.4 1 (16) (2.9)2 + (14) (2.1) 17+ 15-2 1.8 134.567 61.74 (0.125 54) 30 1.8 t = 18 - 1986 √(6.543) (0.1254) 0.905 't = 1.986

df = nith₂-2 3 o to at 0.05 - 1.696 (eeft tailed) Inference t value table value (-1.697) V 1.986 Reject Ho conclude Southlake residents didn't owned their for longer period of time compared to residents in Northwood area. homes