A Realtor Wishes to Compare the Square Footage of Houses

question 46

Multiple Choice

A realtor wishes to compare the square footage of houses in 4 different towns, all of which are pricedapproximately the same. The data are listed below. Use α = 0.01. Which of the following is correct? $$\begin{array} { c c c c } \hline \text { Town 1 Town 2 } & \text { Town 3 } & \text { Town 4 } \\\hline 2150 & 1780 & 1530 & 2400 \\1980 & 1540 & 1670 & 2350 \\2210 & 1690 & 1580 & 2600 \\2000 & 1650 & 1750 & 2200 \\1900 & & 1500 & 2000 \\& & 1600 & 2150 \\& & & 2350 \\\hline\end{array}$$

• A) The mean square footage of houses in Town 2 is equal to the mean square footage in Town 3.
• B) The mean square footage of houses in Town 1 is equal to the mean square footage in Town 2.
• C) The mean square footage of houses in Town 3 is equal to the mean square footage in Town 4.
• D) The mean square footage of houses in Town 4 is equal to the mean square footage in Town 1.

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Definitions:

Proportion

A mathematical relation between parts, quantities, or amounts that expresses how much one is relative to the other.

Equilibrium

A state in which supply and demand are balanced, or a situation in which conflicting forces cancel each other out, resulting in a stable outcome or condition.

Hawk-Dove Game

A model in game theory that explores the conflict between aggressive (hawk) and peaceful (dove) strategies.

Payoff

The return or reward received as a result of an action or decision, particularly in the context of games or economic models.