A realtor wishes to assess whether a difference exists between home prices in th
ID: 2907776 • Letter: A
Question
A realtor wishes to assess whether a difference exists between home prices in three subdivisions. Independent samples of homes from each of the three subdivisions are obtained and their prices are recorded. The analysis of variance results for comparing these prices are provided below:
Source
Sum of Squares
DF
Mean Square
F
Groups
157.44
2
78.72
4.66
Error
253.50
15
16.90
Total
410.94
17
What can we say about the P-value for this F test?
P-value < 0.01
0.05 < P-value < 0.10
0.025 < P-value < 0.05
0.01 < P-value < 0.025
Source
Sum of Squares
DF
Mean Square
F
Groups
157.44
2
78.72
4.66
Error
253.50
15
16.90
Total
410.94
17
Explanation / Answer
hewre for 2 degree of freedom in numerator and 15 degree of freedom in denominator
critical values at 0.025 amd 0.05 level are 4.77 and 3.68
as 4.66 falls in between therefore P-value for this F test:
0.025 < P-value < 0.05 ; option C is correct
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