Question

Check My Work According to the National Association of Realtors, it took an average of three weeks to sell a home in 2017. Data for the sale of 40 randomly selected homes sold in Greene County, Ohio, in showed a sample mean of 3.6 weeks with a sample standard deviation of weeks. Conduct a hypothesis test to determine whether the number of weeks until a house sold in Greene County differed from the national average in . Round your answer to four decimal places.

Answer 1

Complete question :

According to the National Association of Realtors, it took an average of three weeks to sell a home in 2017. Suppose data for the sale of 39 randomly selected homes sold in Greene County, Ohio, in 2017 showed a sample mean of 3.6 weeks with a sample standard deviation of 2 weeks. Conduct a hypothesis test to determine whether the number of weeks until a house sold in Greene County differed from the national average in 2017. Useα = 0.05for the level of significance, and state your conclusion

Answer:

H0 : μ = 3

H1 : μ ≠ 3

Test statistic = 1.897

Pvalue = 0.0653

fail to reject the Null ; Hence, we conclude that their is no significant to accept the claim that number I weeks taken to sell a house differs.

Step-by-step explanation:

Given :

Sample size, n = 40

Sample mean, x = 3.6

Population mean, μ = 3

Standard deviation, s = 2

The hypothesis :

H0 : μ = 3

H1 : μ ≠ 3

The test statistic :

(xbar - μ) ÷ (s/√n)

(3.6 - 3) / (2/√40)

0.6 / 0.3162277

Test statistic = 1.897

Using T test, we can obtain the Pvalue from the Test statistic value obtained :

df = n - 1; 40 - 1 = 39

Pvalue(1.897, 39) = 0.0653

Decison region :

If Pvalue ≤ α ; Reject the null, if otherwise fail to reject the Null.

α = 0.05

Pvalue > α ; We fail to reject the Null ; Hence, we conclude that their is no significant to accept the claim that number I weeks taken to sell a house differs.