This Question: 4 pts 4 of 25 (16 complete) This Test: 100 pts possible During an

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This Question: 4 pts 4 of 25 (16 complete) This Test: 100 pts possible During an economic crisis, the average value of homes in a community of 36 homes lost 59573 with a standard deviation of $1500. The average home value in the region lost $9120. Was this community of 36 homes unusual? Use a t-test to decide if the average loss observed was significantly different from the region value. Use a level of significance -0.05. Identify the hypotheses for the test. Ha: | The test statistic is Round to two decimal places as needed.) The P-value is Round to three decimal places as needed.) What is the conclusion of the test? Was the average loss observed significantly different from the region value? then hypothesis because he P value is ' than the given significance level and conclude that the loss of home values in his con unit appear to be unusual.

Explanation / Answer

Solution:-

The hyothesis test :

H0 : = $9120

Ha : $9120

The test statistic is 1.812

=> (x - ) / (s/sqrt(n)) = (9573 - 9120)/(1500/sqrt(36))

= 1.812

The p-value is 0.0786

df = n-1 = 35

=> Do not Reject Ho the null hypothesis because the p-value is greater than the given significance level,and conclude the loss of home values in this community does n't appear to be unusal.

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