High School

Data were collected from the sale of 25 properties by a local real estate agent. The following printout focuses on the land value variable from the sampled properties:

- HYPOTHESIS: MEAN X = x
- SAMPLE MEAN OF X = 50865
- SAMPLE VARIANCE OF X = 273,643,254
- SAMPLE SIZE OF X = 25
- X = 46422
- MEAN OF X = 4443
- T = 1.34293
- D.F. = 24
- P-VALUE = 0.1918585
- P-VALUE/2 = 0.0959288
- SD ERROR = 3308.43

Suppose we are interested in testing whether the mean land value from this neighborhood differs from 46,422. Which hypotheses would you test?

A. H0: μ = 46,422 vs. Ha: μ > 46,422
B. H0: μ = 46,422 vs. Ha: μ < 46,422
C. H0: μ = 46,422 vs. Ha: μ ≠ 46,422
D. H0: μ ≠ 46,422 vs. Ha: μ = 46,422

Answer :

The hypotheses you can test are:

  • H0: μ = 46,422
  • Ha: μ ≠ 46,422

How to solve

Given the information you provided, the null hypothesis (H0) is that the mean land value from the neighborhood is equal to 46,422, and the alternative hypothesis (Ha) is that the mean land value is different from 46,422.

The p-value is 0.1918585, which is greater than the significance level of 0.05. Therefore, we fail to reject the null hypothesis.

In other words, there is not enough evidence to conclude that the mean land value from the neighborhood is different from 46,422.

To be more concise, the hypotheses you can test are:

H0: μ = 46,422

Ha: μ ≠ 46,422

Read more about null hypothesis here:

https://brainly.com/question/30535681

#SPJ4

Other Questions