The Employees at the East Vancouver Office of a Multinational $\pm$

question 36

Multiple Choice

The employees at the East Vancouver office of a multinational company are demanding higher salaries than those offered at the company office located in Oshawa Ontario. Their justification for the pay difference is that the difference between the average price of single-family houses in East Vancouver and that in Oshawa is more than $60,000. Before making a decision, the company management wants to study the difference in the prices of single-family houses for sale at the two locations. The results of their search of recent house sales are as follows (in $1000, rounded to the nearest thousand) :

Assuming that the population distributions are approximately normal, can we conclude at the 0.05 significance level that the difference between the two population means is greater than $60,000?
If you use the 5% level of significance, what is the critical t value?

• A) 2.228
• B) 1.714
• C) 1.833
• D)\(\pm\) 2.262

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Definitions:

Constitution

The fundamental principles or established precedents according to which a state or other organization is governed.

Property Ownership

The legal right or title that an individual or entity has over property, including the right to use, sell, lease or transfer it.

Involuntary Bailee

An individual or entity that unintentionally finds themselves in possession of someone else's property and is responsible for its care.

Destroy

To cause something to cease to exist or to put an end to something by damaging it beyond repair or recovery.