2. Hypothesis test for ? when ? is unknown [8 marks] A real estate company claim

Question

2. Hypothesis test for ? when ? is unknown [8 marks] A real estate company claims that the average cost of a single home in Ottawa is $425,000. To test this claim, a researcher selects a sample of 32 single homes to test the claim. The data is uploaded on CULearn. Follow these steps to perform the test: 1. From the menu, select Stat then Basic Statistics then 1-Sample t... 2. Keep the one or more samples, each in a column option and type c1 and 425000 for Hypothesized mean then click OK. 3. Copy the output and add it to your assignment. Questions: A. What is the test statistic value? B. What is the p-value? C. At ? = 0.05, do you reject or fail to reject H0? D. At ? = 0.01, do you reject or fail to reject H0?
I have done the minitab part of the question can I please get answer for part a,b,c and d ?

Question 2 One-Sample T: C1 Descriptive Statistics N Mean StDev SEMean 95% CI for ? 32 449228 54544 9642 (429563, 468893) ?: mean of C1 Test Null hypothesis Ho: ? = 425000 Alternative hypothesis H1: ? * 425000 T-Value P-Value 2.51 0.017

Explanation / Answer

MTB > OneT 32 449228 54544;
SUBC> Test 425000;
SUBC> Confidence 95.0;
SUBC> Alternative 0.

For alpha = 0.05

One-Sample T

Test of ? = 425000 vs ? 425000

N Mean StDev SE Mean 95% CI T P
32 449228 54544 9642 (429563, 468893) 2.51 0.017

MTB > OneT 32 449228 54544;

SUBC> Test 425000;
SUBC> Confidence 99.0;
SUBC> Alternative 0.

One-Sample T

Test of ? = 425000 vs ? 425000

N Mean StDev SE Mean 99% CI T P
32 449228 54544 9642 (422770, 475686) 2.51 0.017

A] Test statistics = t= 2.51

B] pvalue = 0.017

C] alpha = 0.05,

pvalue = 0.017 < alpha = 0.05

We reject H0 at 5 % los

D] alpha = 0.01,

pvalue = 0.017 < alpha =0.01

We reject H0 at 5% los

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