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

question 70

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 X = land_value SAMPLE MEAN OF X = 51,860 SAMPLE VARIANCE OF X = 273,643,254 SAMPLE SIZE OF X = 25 x = 47,417 MEAN X - x = 4443 t = 1.34293 D.F. = 24 P-VALUE = 0.1918585 P-VALUE/2 = 0.0959288 SD. ERROR = 3308.43 What assumptions are necessary for any inferences derived from this printout to be valid?

• A) The sample was selected from an approximately normal population.
• B) None. The Central Limit Theorem makes any assumptions unnecessary.
• C) The sampled data are approximately normal.
• D) The sampling distribution of the sample mean is approximately normal.

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Definitions:

True Burden

The actual economic impact of a tax or fiscal policy on individuals or entities, taking into account both direct and indirect effects.

Tax

A mandatory financial charge levied by a government on individuals, corporations, or other legal entities to fund government spending and various public expenditures.

Levied

The imposition or collection of a tax, charge, or fine.

Market Activity

The various transactions, movements, and behaviors of participants that occur within a marketplace, influencing the supply and demand of goods and services.