Data Were Collected from the Sale of 25 Properties by a Local

question 110

Multiple Choice

Data were collected from the sale of 25 properties by a local real estate agent. The following printout concentrated on the land value variable from the sampled properties.

HYPOTHESIS: MEAN $X = x$
$\begin{array}{rl}\text {X}&=\text { land} -\text { value }\\ \\\text { SAMPLE MEAN OF X }&=47,453\\\text { SAMPLE VARIANCE OF X }&=273,643,254\\\text { SAMPLE SIZE OF X }&=25\\x&=43,010\\\\\text { MEANX- } \mathrm{x} & =4443 \\\mathrm{t} & =1.34293 \\\text { D.F. } & =24 \\\text { P-VALUE } & =0.1918585 \\\text {P-VALUE } / 2 & =0.0959288 \\\text { SD. ERROR } & =3308.43\end{array}$


Suppose we are interested in testing whether the mean land value from this neighborhood differs from 43,010 . Which hypotheses would you test?

• A) \(H _ { 0 } : \mu \neq 43,010\) vs. \(H _ { \mathrm { a } } : \mu = 43,010\)
• B) \(H _ { 0 } : \mu = 43,010\) vs. \(H _ { \mathrm { a } } : \mu < 43,010\)
• C) \(H _ { 0 } : \mu = 43,010\) vs. \(H _ { \mathrm { a } } : \mu \neq 43,010\)
• D) \(H _ { 0 } : \mu = 43,010\) vs. \(H _ { \mathrm { a } } : \mu > 43,010\)

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Definitions:

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A form of monetary policy that aims to increase the money supply and lower interest rates to stimulate economic growth.

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The value of a country’s total exports minus its total imports, which can indicate the country’s economic strength in international trade.

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The percentage at which interest is charged or paid for the use of money.

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