Questions & Answers Statistics and Probability BigDeal Real Estate surveyed prices per square foot in the valley...

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# BigDeal Real Estate surveyed prices per square foot in the valley...

BigDeal Real Estate surveyed prices per square foot in the valley and foothills of Hoke-a-mo, Utah. Based on BD's DATA, are prices per square foot equal at α = 0.01?

A) The critical value is 2.977 since this is a two-tail scenario. The test statistic is 3.207.  Since the test statistic > the critical value, the test statistic does lie in the area of rejection.  Reject the null hypothesis.  The prices per square foot are not equal at alpha = .01

B) The critical value is 2.977 since this is a two-tail scenario. The test statistic is 1.936.  Since the test statistic < the critical value, the test statistic does not lie in the area of rejection.  Do not reject the null hypothesis.  The prices per square foot are equal at alpha = .01

C) The critical value is 2.977 since this is a two-tail scenario. The test statistic is 1.513.  Since the test statistic < the critical value, the test statistic does not lie in the area of rejection.  Do not reject the null hypothesis.  The prices per square foot are equal at alpha = .01

D) The critical value is 2.977 since this is a two-tail scenario. The test statistic is 2.239.  Since the test statistic < the critical value, the test statistic does not lie in the area of rejection.  Do not reject the null hypothesis.  The prices per square foot are equal at alpha = .01 Solved by verified expert

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