A Real Estate Company Is Analyzing the Selling Prices of Residential

question 86

Multiple Choice

A real estate company is analyzing the selling prices of residential homes in a given community.140 homes that have been sold in the past month are randomly selected and their selling prices are recorded.The statistician working on the project has stated that in order to perform various statistical tests,the data must be distributed according to a normal distribution.In order to determine whether the selling prices of homes included in the random sample are normally distributed,the statistician divides the data into 6 classes of equal size and records the number of observations in each class.She then performs a chi-square goodness-of-fit test for normal distribution.The results are summarized in the following table. At a significance level of .05,we:

• A)Reject H₀;conclude the residential home selling prices are not distributed according to a normal distribution.
• B)Do not reject H₀;conclude the residential home selling prices are not distributed according to a normal distribution.
• C)Reject H₀;conclude the residential home selling prices are distributed according to a normal distribution.
• D)Do not reject H₀;conclude the residential home selling prices are distributed according to a normal distribution.

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Definitions:

Biological State

A term referring to the condition or status of an organism's functioning at the biological level, encompassing aspects like metabolism, hormone levels, and overall health.

Encoded

The process of converting information into a particular form for efficient communication, storage, or processing.

Short-Term Memory

A capacity for holding a small amount of information in mind in an active, readily available state for a short period of time.

Stimulus Decays

The gradual weakening of a stimulus's impact over time, leading to a decrease in the response it evokes.