Write the null and alternate hypothese for this test. A credit crunch gripped th

Question

Write the null and alternate hypothese for this test. A credit crunch gripped the nation in 2007-2008 leading to record numbers of mortgage foreclosures and declines in home sales prices. The table above provides the median home sale prices for four regions of the country in the first quarter (Jan-March) of 2007 and the first quarter of 2008. Is this evidence of a change in home prices from 2007 to 2008? Which type of test should you use? 2-sample test (means) z-test for proportions matched pairs test z-test for means 2-sample test (proportions) t-test for means

Explanation / Answer

It is t-test for means..

HO:home prices for first quarter for year 2007 &2008 are same

HO: home prices for first quarter for year 2007 & 2008 are not same.

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