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

question 56

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 a point estimate for the mean of the sampling distribution of the difference between the two sample means?

• A) -22
• B) -10
• C) -15
• D) 0

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Definitions:

Critical Number

A critical number is a value on the domain of a function where the function's derivative is zero or undefined, important in finding function maximums and minimums.

Randomized Block Design

A statistical experiment design that aims to reduce the effects of confounding variables by grouping similar experimental units into blocks before randomly applying treatments within each block.

Tukey's Method

A statistical technique for identifying outliers in data, comparing the spread of the data with the interquartile range (IQR) to find values that stand out excessively.

Ranked Means

This involves ordering sets of data points or groups from lowest to highest and comparing the mean values of these ranks to analyze differences or trends.