A Local Real Estate Appraiser Analyzed the Sales Prices of Homes

question 56

Multiple Choice

A local real estate appraiser analyzed the sales prices of homes in 2 neighborhoods to the corresponding appraised values of the homes. The goal of the analysis was to compare the distribution of sale-to-appraised ratios from homes in the 2 neighborhoods. Random and independent samples were selected from the 2 neighborhoods from last year's homes sales, 8 from each of the 2 neighborhoods. Identify the nonparametric method that would be used to analyze the data.

• A) the Wilcoxon Signed-Ranks Test, using the test statistic W
• B) the Wilcoxon Rank Sum Test, using the test statistic Z
• C) the Wilcoxon Signed-Ranks Test, using the test statistic Z
• D) the Wilcoxon Rank Sum Test, using the test statistic T₁

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Definitions:

Organizational Buyers

Entities such as companies, governments, and institutions that purchase goods and services for organizational purposes rather than personal use.

Not-for-Profit Organizations

Entities that operate for purposes other than making profit, often focusing on social, educational, or charitable work.

Raw Materials

Basic substances in their natural, modified, or semi-processed states, used as inputs to production or manufacturing processes.

Finished Goods

Products that have completed the manufacturing process and are ready for sale to consumers or for use as components in other products.