TABLE 10-3 a Real Estate Company Is Interested in Testing Whether the Whether

question 46

Multiple Choice

TABLE 10-3
A real estate company is interested in testing whether the mean time that families in Gotham have been living in their current homes is less than families in Metropolis. Assume that the two population variances are equal. A random sample of 100 families from Gotham and a random sample of 150 families in Metropolis yield the following data on length of residence in current homes.
Gotham: G = 35 months, SG² = 900 Metropolis: M = 50 months, SM² = 1050
-Referring to Table 10-3, suppose α = 0.01. Which of the following represents the result of the relevant hypothesis test?

• A) The alternative hypothesis is rejected.
• B) The null hypothesis is rejected.
• C) The null hypothesis is not rejected.
• D) Insufficient information exists on which to make a decision.

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Definitions:

Desirable

Qualities or features that are attractive or sought-after in various contexts, such as products, traits, or outcomes.

Undesirable

A characteristic or condition deemed negative, unwanted, or harmful in a particular context.

Subjective

Based on or influenced by personal feelings, tastes, or opinions.

Objective Bases

The foundation or criteria that are independently verifiable and not influenced by personal feelings or opinions.