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

question 49

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 = 1,050
-Referring to Table 10-3, what is(are) the critical value(s) of the relevant hypothesis test if the level of significance is 0.01?

• A) t ≅ Z = -1.96
• B) t ≅ Z = ±1.96
• C) t ≅ Z = -2.080
• D) t ≅ Z = -2.33

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Definitions:

Distribution

The way in which something is shared out or spread across a range of values, areas, or people.

Null Hypothesis

A statistical hypothesis that assumes there is no significant difference or effect, serving as a default position until evidence suggests otherwise.

Independent Samples

Independent samples refer to sets of data collected from distinct, non-overlapping groups or populations, where the performance or measurement in one group does not influence the other.

Population Means

The average values of a particular variable for all individuals within a population.