Under which conditions you reject Null Hypothesis? t-test > t-critical p-value <

Question

Under which conditions you reject Null Hypothesis?

t-test > t-critical

p-value < alpha

t-test < t-critical

p-value > alpha

t-test = t-critical

p-value = alpha

t-test ? t-critical

p-value ? alpha

t-test  ?  t-critical

p-value  ?  alpha

10 points   

QUESTION 2

You collect a random sample to determine the average house price in Illinois. Your sample size is 4. Sample average is $250K. Sample standard deviation is $60K. Compute the upperlimit for the 95% Confidence Interval up to 2 decimal points.

Note, 2 decimal points, implies your answer should be, for example, in the form 100.55 instead of 100.551 or 100.6.

10 points   

QUESTION 3

Your real estate agent has a gut feeling that the average house price in Illinois is $200K. You decide to use the earlier collected data. Your sample size is 4. Sample average is $250K. Sample standard deviation is $60K. Test hypothesis that the average house price in Illinois is $200K vs. alternative that it is not (two-sided). Use alpha 5%.

Provide below the value of test statistic up to 3 decimal points

10 points   

QUESTION 4

Your partner believes that the average house price in Illinois is the same as the average house price in California. Your team randomly selects 9 houses in California. The sample average for California is $200K. The sample standard deviation for California is $90K. You use the same data for Illinois. Specifically, for Illinois your sample size is 4. Sample average for Illinois is $250K. The sample standard deviation for Illinois is $60K. Test the hypothesis that the average house price in Illinois is the same as the average house price in California against the alternative that they are not the same (two-sided). Use alpha 5%. Below provide the test statistic up to 3 decimal points.

10 points   

QUESTION 5

You receive the following output for the regression. Which of the coefficients is statistically significant at alpha 1%.

Intercept

Age

Neither

Impossible to answer given information

1.

t-test > t-critical

p-value < alpha

2.

t-test < t-critical

p-value > alpha

3.

t-test = t-critical

p-value = alpha

4.

t-test ? t-critical

p-value ? alpha

5.

t-test  ?  t-critical

p-value  ?  alpha

Explanation / Answer

1) We reject null hypothesis if test statistic t > critical value and p-value less than alpha.

So correct option is

t-test > t-critical

p-value < alpha

1.

t-test > t-critical

p-value < alpha

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