Two real estate companies, Century 21 and RE/MAX, compete with one another in a local market. The manager of the Century 21 office would like to advertise that homes listed with RE/MAX average more than 10 days on the market when compared to homes listed with his company. The following data shows the sample size and average number of days on the market for the two companies along with the population standard deviations.
A) Because the 80% confidence interval does not include 10, the manager at Century 21 can reject the null hypothesis and claim that homes listed with RE/MAX average more than 10 days on the market when compared to homes listed with his company.
B) Because the 80% confidence interval does not include zero, the manager at Century 21 can reject the null hypothesis and cannot claim that homes listed with RE/MAX average more than 10 days on the market when compared to homes listed with his company.
C) Because the 80% confidence interval includes 10, the manager at Century 21 can fail to reject the null hypothesis and claim that homes listed with RE/MAX average more than 10 days on the market when compared to homes listed with his company.
D) Because the 80% confidence interval includes zero, the manager at Century 21 can fail to reject the null hypothesis and claim that homes listed with RE/MAX average more than 10 days on the market when compared to homes listed with his company.
Correct Answer:
Verified
Q15: The Centers for Disease Control (CDC)would like
Q16: AT&T would like to test the hypothesis
Q17: The Centers for Disease Control (CDC)would like
Q18: Progressive Insurance would like to test the
Q19: Progressive Insurance would like to test the
Q21: When in doubt about your assumption that
Q22: When conducting a hypothesis test comparing two
Q23: The pooled variance is used to calculate
Q24: A hypothesis test using dependent samples is
Q25: When the confidence interval for the difference
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents