Stats Solutions

[See Steps] A Realtor wishes to assess whether a difference exists, at a significance level of 0.05, between home prices in three subdivisions. Independent

Question: (17 points) A Realtor wishes to assess whether a difference exists, at a significance level of 0.05, between home prices in three subdivisions. Independent samples of homes from each of the three subdivisions – 18 homes in total - are obtained and their prices are recorded. The analysis of variance results for comparing these prices is started below.

SOURCE SUM OF SQUARES DF MEAN SQUARE F
Groups 157.44 ______ _________ ________
Error 253.50 ______ _________
Total 410.94 ______
  1. What are the null and alternative hypotheses that we need to test?
  2. Complete the blanks in the table.
  3. What is the value of the estimate of the common population standard deviation of the populations of home prices in the three subdivisions?
  4. What is your estimate of the P -value for this F test?
  5. What is our conclusion for the hypothesis test?

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Solution: The downloadable solution consists of 2 pages
Deliverable: Word Document


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