Question

It has been suggested that the price of condominiums in Calgary have increased in the past six months. In order to test this claim, a sampling design was employed where the selling price of 10 randomly selected condos were chosen from both January and July of this year. The selling prices are in terms of $1000s and the data is listed below.  Assuming that the selling price of condos are normally distributed, does the data support the claim that the mean selling price of a condo in July is greater than the selling price of a condo in January of this year? Conduct a Hypothesis test. Use ? = 0.05.

July = (153.3, 155.9, 176.2, 189.9, 200.0, 214.9, 229.9, 231.5, 257.9, 299.9)
January = (151.1, 154.2, 169.9, 169.9, 185.9, 199.5, 229.9, 232.9, 279.9, 289.9)

Answer 1