TABLE 10-4
a Real Estate Company Is Interested in Testing

question 171

Multiple Choice

TABLE 10-4
A real estate company is interested in testing whether, on average, families in Gotham have been living in their current homes for less time than families in Metropolis have. Assume that the two population variances are equal. A random sample of 100 families from Gotham and a random sample of 150 families in Metropolis yield the following data on length of residence in current homes.
$$\text { Gotham: } \bar{X} _ { G } = 35 \text { months, } s _G ^ { 2 } = 900 \text { Metropolis: } \bar{X} _ { M } = 50 \text { months, } s _ { M ^ { 2 } } = 1050$$
-Referring to Table 10-4, suppose ? = 0.10. Which of the following represents the result of the relevant hypothesis test?

• A) The null hypothesis is not rejected.
• B) The alternative hypothesis is rejected.
• C) The null hypothesis is rejected.
• D) Insufficient information exists on which to make a decision.

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Definitions:

Currency Exchange Rate

The value of one currency for the purpose of conversion to another.

Country's Currency

The legal tender issued by a country's government, used as a medium of exchange within its economy.

Income Distribution

The way in which total income is shared amongst the population or different groups within society.

Per Capita Incomes

The average income earned per person in a certain area or country, calculated by dividing the area's total income by its total population.