Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 17 Oct 2017 My Price 5.00

House sales.

24.    House sales. The realty company in Exercise 21b looks at a recent sample of houses that have sold. On testing the null hypothesis that 50% of the houses take more than three months to sell against the hypothesis that more than 50% of the houses take more than three months to sell, they find a P-value of 0.034. Which of these conclusions is appropriate?

a)    There’s a 3.4% chance that 50% of the houses take more than three months to sell.

b)    If 50% of the houses take more than three months to sell, there’s a 3.4% chance that a random sample would produce a sample proportion as high as the one they obtained.

c)    There’s a 3.4% chance that the null hypothesis is cor- rect.

d)    There’s a 96.6% chance that 50% of the houses take more than three months to sell.

Answers

Maurice Tutor
(5)
Status NEW Posted 17 Oct 2017 07:10 PM My Price 5.00

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