Can someone please help me with this question?
2 answers:
You might be interested in
Hope this can help explain better got you. :)
Answer:
The value of P-value is 0.0472.
Step-by-step explanation:
We are given that you take a simple random sample of 12 apartments in town A and calculate the average price of these apartments. You repeat this for 15 apartments in town B.
Let = <u><em>true average price of apartments in town A</em></u>
= <u><em>true average price of apartments in town B</em></u>
So, Null Hypothesis, :
Alternate Hypothesis, :
The test statistics that have been used here is <u>two-sample t-test statistics</u>, i.e;
The test statistics given to us is 2.1
Now, the P-value of the test statistics is given by the following formula;
P-value = P( > 2.1)
= P( > 2.1) = 0.0236
In two-tailed test, P-value is calculated as = 2 0.0236 = <u>0.0472</u>
Hence, the value of the p-value is 0.0472.