Suppose That a Realtor Is Interested in Comparing the Price

question 20

Essay

Suppose that a realtor is interested in comparing the price of midrange homes in two cities in a midwestern state.She conducts a small survey in the two cities,looking at the price of midrange homes.Assume equal population variances.
$\begin{array} { l r r } & \text { City A } & \text { City B } \\\text { Sample Mean } & 86,900 & 84,000 \\\text { Sample Std Dev } & 2300 & 1750 \\\text { Sample Size } & 9 & 7\end{array}$
Set up the alternative hypothesis to test the claim that there is a difference in the mean price of midrange homes of the two cities.

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Definitions:

Requirement of Writing

A legal principle that certain contracts or agreements must be in written form to be legally valid.

Third-Party Agreement

A legally binding contract that involves a party outside of the two primary entities involved in a transaction or agreement.

Restricting Competition

Practices or agreements that limit free competition in the marketplace, often scrutinized under antitrust or competition laws.

Void

A term describing a contract or legal agreement that is null, having no legal force or effect, and therefore unenforceable.