Question

с 1 2 з 4 5 б 7 9 10 д в Fireplace No Fireplace 198239 200318 156583 198830 299962 152497 159648231338 243709241129 | 126082 233938 | 248037 268498 254993 232469 174432 208122 105369 158489 260420 14 1907 157941 157328 103047 272295 284992 131729 140240 209315 141292 251022 131662 180059 282109 219022 238106 218411 202262 234016 269052 137448 276649 240731 290476 218705 266068 246459 198569 175167 136971) 156506 296027 176602 258 102270460 213610 196509 168791212873 214738 172500 164693 251036 280411147060 195655 125182 291911 200035 189862 132249 153175 203513 | 275820 169227 279119 209783 271840 218088 121458 226445 249715 186030 151167 145852 150208 198162 271419 144826 187053 254673 144604 245294 201332 213761 | 141748 135291 27 28 29 30 31 32 33 4

Answer 1

The independent-sample t-test is performed in excel by following these steps,

Step 1: Write the data values in excel. The screenshot is shown below,

А в 1 Fireplace No Fireplace 198239 200318 156583 198830 299962 152497 159648 231338

Step 2: DATA > Data Analysis > t-Test: Two-Sample Assuming Equal Variances > OK. The screenshot is shown below,

DATA REVIEW Data Analysis ? X Сок HE INSERT PAGE LAYOUT FORMULAS 21 21A Y Data Analysis Analysis Tools Histogram Moving Average Random Number Generation Rank and Percentile Regression Sampling t-Test: Paired Two Sample for Means t-Test: Two-Sample Assuming Equal Variances t-Test: Two-Sample Assuming Unequal Variances Z-Test: Two Sample for Means Cancel Help

Step 3: Select the Variable 1: Fireplace column, Variable 2 Range: No Fireplace column, Hypothesized Mean Difference: 0, Alpha = 0.05. The screenshot is shown below,

1 Fireplace No Fireplace 198239 200318 156583 198830 29 Nm 200oca ? x t-Test: Two-Sample Assuming Equal Variances Input Variable 1 Range: SA$1:$A$101 Variable 2 Range: $B$1:$B$101 | 000 ок Cancel Help 13 Hypothesized Mean Difference: Labels Alpha: 0.05 Output options O Output Range O New Worksheet Ply: New Workbook

The result is obtained. The screenshot is shown below,

1 t-Test: Two-Sample Assuming Equal Variances m Fireplace No Fireplace 204505.76 197406.49 3295557027 1865788983 100 100 2580673005 Mean 5 Variance 6 Observations 7 Pooled Variance 8 Hypothesized Mean Difference 9 df 10 t Stat 11 P(T<=t) one-tail 12 t Critical one-tail 13 P(T<=t) two-tail 14 t Critical two-tail 198 0.988171232 0.162137408 1.652585784 0.324274816 1.972017478

Answer:

1)

Hypothesis

Null hypothesis: There is no difference in the mean prices of home with and without a fireplace.

Ho: M1 = 2

Alternative hypothesis: There is no difference in the mean prices of home with and without a fireplace.

$H_a:\mu_1\neq\mu_2$

2)

Since the home prices of two samples are independent of each other, the independent sample t-test is used.

3)

From the t-test result summary,

P-value (2-tailed) = 0.3243

4)

Since the p-value = 0.3243 is greater than 0.01 at a 1% significance level, the null hypothesis is not rejected hence we can conclude thatThere is no difference in the mean prices of home with and without a fireplace.