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wee 3 Roberts Part 5 step

# wee 3 Roberts Part 5 step - c 0.5 0 0.25 p(as decimal...

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We will start the 5 step hypothesis by re-stating our hypothesis which was the first home (which does not have an HOA fee) will sell faster. Our null hypothesis will be that because the second house (which is a town home and has a HOA fee) will take longer to sell because of the HOA fee of 150. We ramdomly selected 20 homes 10 with no HOA and 10 with an HOA fee of \$150 and calculate a sample mean of \$75. Assuming that the standard deviation of max amount paid is \$300, and set α =20. Hypoth esis test for two indepe ndent proporti ons p1 p2

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Unformatted text preview: c 0.5 0. 0.25 p (as decimal) 150/300 0 150/60 p (as fraction) 150. 0. 150. X 300 300 600 n 0.5 differenc e 0. hypothe sized differenc e 0.0354 std. error 14.14 z 0.00E+0 p-value (two-tailed) 0.4434 confiden ce interval 95.% lower 0.5566 confiden ce interval 95.% upper 0.0566 half-width We think that a rejection of the null hypothesis is necessary in favor of the alternative. We concluded that the mean is significantly less than 20, thus we have proven that more homes will sell without the HOA fee then will sell with it....
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