Question

The amount of income spent on housing is an important component of the cost of living. The total costs of housing for homeowners might include mortgage payments, property taxes, and utility costs (water, heat, electricity). An economist selected a sample of 20 homeowners in New England and then calculated these total housing costs as a percent of monthly income, 5 years ago and now. The information is reported below. At the 5% significance level is it reasonable to conclude the percent is different than 5 years ago?  

Five	Now
17	10
20	39
29	37
43	27
36	12
43	41
45	24
19	26
49	28
49	26
35	32
16	32
23	21
33	12
44	40
44	42
28	22
29	19
39	35
22	12

Answer 1