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The Sales Price (In $1,000)of Three-Bedroom Apartments in Two Cities

question 82

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The sales price (in $1,000)of three-bedroom apartments in two cities: Houston,Texas,and Orlando,Florida are given in the following table.Houston is known to have lower house prices than Orlando;however,it is not clear if it also has lesser variability in its prices. The sales price (in $1,000)of three-bedroom apartments in two cities: Houston,Texas,and Orlando,Florida are given in the following table.Houston is known to have lower house prices than Orlando;however,it is not clear if it also has lesser variability in its prices.   a.State the null and the alternative hypotheses in order to determine if the variance of house price in Houston is less than that in Orlando. B)What assumption regarding the population is necessary to implement this step? C)Test the hypothesis at α = 0.05.What is your conclusion? a.State the null and the alternative hypotheses in order to determine if the variance of house price in Houston is less than that in Orlando.
B)What assumption regarding the population is necessary to implement this step?
C)Test the hypothesis at α = 0.05.What is your conclusion?


Definitions:

Coherence

The quality of being logical, consistent, and forming a unified whole.

Alliance

A union or association formed for mutual benefit, especially between countries or organizations.

Offeree

The individual or entity to whom an offer is made in a contract scenario.

Offeror

The party in a contract proposal who makes an offer to enter into an agreement, waiting for the acceptance of the offeree.

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