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

question 65

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.
$$\text { Gotham: } \bar{X} _ { G } = 35 \text { months, } s g ^ { 2 } = 900 \quad \text { Metropolis: } \bar{X} _ { M } = 50 \text { months, } \mathrm { sm } ^ { 2 } = 1050$$
-Referring to Table 10-4, suppose ? = 0.1. Which of the following represents the correct conclusion?

• A) There is not enough evidence that, on average, families in Gotham have been living in their current homes for no less time than families in Metropolis have.
• B) There is enough evidence that, on average, families in Gotham have been living in their current homes for less time than families in Metropolis have.
• C) There is not enough evidence that, on average, families in Gotham have been living in their current homes for less time than families in Metropolis have.
• D) There is enough evidence that, on average, families in Gotham have been living in their current homes for no less time than families in Metropolis have.

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Definitions:

Revenue

The overall income produced from selling goods or services that are central to a company's main business activities.

Profit and Loss

A financial statement that summarizes the revenues, costs, and expenses incurred during a specific period, usually a fiscal quarter or year.

Comparative Purposes

For purposes of comparison, often to analyze differences or similarities between two or more items or situations.

External Data

Information that originates outside the organization and is used for analysis or decision making.