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

question 83

Short Answer

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 = 51,288 SAMPLE VARIANCE OF X = 273,643,254 SAMPLE SIZE OF X = 25 x = 46,845 MEAN X - x = 4443 t = 1.34293 D.F. = 24 P-VALUE = 0.1918585 P-VALUE/2 = 0.0959288 SD. ERROR = 3308.43 Suppose we are interested in testing whether the mean land value from this neighborhood differs from 46,845. Which hypotheses would you test? A) $H _ { 0 } : \mu = 46,845$ vs. $H _ { \mathbf { a } } : \mu \neq 46,845$
B) $H _ { 0 } : \mu = 46,845$ vs. $H _ { \mathrm { a } } : \mu > 46,845$
C) $H _ { 0 } : \mu = 46,845$ vs. $H _ { \mathbf { a } } : \mu < 46,845$
D) $H _ { 0 } : \mu \neq 46,845$ vs. $H _ { a } : \mu = 46,845$

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Definitions:

Cross Bed Formation

The structures within sedimentary rocks that result from angled deposition due to wind or water currents, indicating the direction of flow.

Sediment Composition

The makeup or content of material particles that accumulate on the Earth's surface, which can range from organic matter to minerals and rocks.

Climate Change

Long-term significant changes in the temperature, precipitation, and patterns of weather across the globe, often attributed to human activities.

Iron Formation

A geological formation consisting of layers of iron minerals, often found as banded iron formations which are significant sources of iron ore.