Realtor
a New Realtor in a Large Community Is Attempting $\mu _ { 1 } = \mu _ { 2 }$

question 94

Essay

Realtor
A new realtor in a large community is attempting to determine differences in the selling prices of houses in two sections of the community.Population 1 is the Northeast and Population 2 is the Southwest.The realtor is going to perform the hypothesis test: H₀: $\mu _ { 1 } = \mu _ { 2 }$ H₁: $\mu _ { 1 } \neq \mu _ { 2 }$ A random sample of 35 sale homes is taken from the Northeast and 41 from those in the Southwest using the multiple listing services.A Minitab summary of the results of the two samples expressed in thousands follows: $$\begin{array} { l c c c c c c } & \text { N } & \text { MEAN } & \text { MEDIAN } & \text { TRMEAN } & \text { STDEV } & \text { SE MEAN } \\\text { NORTHEAST } & 35 & 86.789 & 84.800 & 88.313 & 60.067 & 10.153 \\\text { SOUTHWEST } & 41 & 60.490 & 62.200 & 61.857 & 14.740 & 2.302\end{array}$$
-What is the decision rule at the 0.01 level of significance?

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Definitions:

Detail Salesperson

A salesperson who focuses on the specific features and benefits of a product, paying close attention to details to persuade potential customers.

Order-Taker

An individual in sales who primarily takes orders from customers rather than actively selling or persuading them.

Annual Sales Volume

The total quantity of sales or services sold by a company in one fiscal year.

Sales Manager

A professional responsible for directing and overseeing a company's sales team, focusing on meeting sales targets and developing selling strategies.