Even before the \\Ownership Society\" programs of Presidents Clinton and Bush, t

Question

Even before the Ownership Society" programs of Presidents Clinton and Bush, the federal
government was heavily involved in the housing market. In a study just prior to the foreclosure
crisis starting in 2008, the Urban Institute started about 80% of the estimated $200 billion
of federal housing subsidies consisted of tax breaks. Samples indicated that federal housing
benefits average $8,268 for those with incomes $200,000 and $500,000 and only $365 for those
with incomes of $40,000 to $50,000. The respective standard deviations were $2,100 and $150.
They were obtained from sample sizes of 150.

1. the statistical test obtained is 45.9741 and p value is 0.0000. Test whether the benefits
to the high income group are at least $7,500 more than the benefits to the low income
group using = 0:05. Make sure to state the null and the alternative hypotheses. Assume
bene ts are normally distributed for both income groups.

Explanation / Answer

Even before the \Ownership Society" programs of Presidents Clinton and Bush, t

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