Question

A certain company will purchase the house of any employee who is transferred out of state...

A certain company will purchase the house of any employee who is transferred out of state and will handle all details of reselling the house. The purchase price is based on two assessments, one assessor being chosen by the employee and one by the company. Based on the sample of eight assessments shown, do the two assessors agree? Use the .05 level of significance.

Assessments of Eight Homes ($ thousands)
Assessed by Home 1 Home 2 Home 3 Home 4 Home 5 Home 6 Home 7 Home 8
Company 329 347 458 277 291 283 532 743
Employee 315 344 479 287 304 284 520 765



(a)
Choose the appropriate hypotheses. Assume d = company assessed value – employee assessed value.

H0: μd = 0 versus H1: μd ≠ 0.

H0: μd ≠ 0 versus H1: μd = 0.



(b) State the decision rule for .05 level of significance. (Round your answers to 2 decimal places. A negative value should be indicated by a minus sign.)

Reject the null hypothesis if tcalc <  or tcalc >  .

(c-1)
Find the test statistic tcalc. (Round your answer to 2 decimal places. A negative value should be indicated by a minus sign.)

tcalc             

(c-2)
What is your conclusion?

We  (Click to select)  reject  fail to reject   the null hypothesis.

Homework Answers

Answer #1

Difference Scores Calculations

Treatment 1

N1: 8
df1 = N - 1 = 8 - 1 = 7
M1: 407.5
SS1: 186536
s21 = SS1/(N - 1) = 186536/(8-1) = 26648


Treatment 2

N2: 8
df2 = N - 1 = 8 - 1 = 7
M2: 412.25
SS2: 198467.5
s22 = SS2/(N - 1) = 198467.5/(8-1) = 28352.5


T-value Calculation

s2p = ((df1/(df1 + df2)) * s21) + ((df2/(df2 + df2)) * s22) = ((7/14) * 26648) + ((7/14) * 28352.5) = 27500.25

s2M1 = s2p/N1 = 27500.25/8 = 3437.53
s2M2 = s2p/N2 = 27500.25/8 = 3437.53

t = (M1 - M2)/√(s2M1 + s2M2) = -4.75/√6875.06 = -0.06

The t-value is -0.05729. The p-value is .955126

Fail to reect null

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
A certain company will purchase the house of any employee who is transferred out of state...
A certain company will purchase the house of any employee who is transferred out of state and will handle all details of reselling the house. The purchase price is based on two assessments, one assessor being chosen by the employee and one by the company. Based on the sample of eight assessments shown, do the two assessors agree? Use the .01 level of significance. Assessments of Eight Homes ($ thousands) Assessed by Home 1 Home 2 Home 3 Home 4...
A certain company will purchase the house of any employee who is transferred out of state...
A certain company will purchase the house of any employee who is transferred out of state and will handle all details of reselling the house. The purchase price is based on two assessments, one assessor being chosen by the employee and one by the company. Based on the sample of eight assessments shown, do the two assessors agree? Use the .01 level of significance. Assessments of Eight Homes ($ thousands) Assessed by Home 1 Home 2 Home 3 Home 4...
A certain company will purchase the house of any employee who is transferred out of state...
A certain company will purchase the house of any employee who is transferred out of state and will handle all details of reselling the house. The purchase price is based on two assessments, one assessor being chosen by the employee and one by the company. Based on the sample of eight assessments shown, do the two assessors agree? Use the .05 level of significance. Assessments of Eight Homes ($ thousands) Assessed by Home 1 Home 2 Home 3 Home 4...
In 2009 Noodles & Company introduced spaghetti and meatballs to their menu. Before putting it on...
In 2009 Noodles & Company introduced spaghetti and meatballs to their menu. Before putting it on the menu, they performed taste tests to determine the best-tasting spaghetti sauce. In a paired comparison, 70 tasters were asked to rate their satisfaction with two different sauces on a scale of 1–10 with 10 being the highest. The mean difference in ratings was: d=–0.385714 with a standard deviation of sd = 1.37570. Use α = 0.05.         (a) Choose the appropriate hypotheses for...
Rates of return (annualized) in two investment portfolios are compared over the last 12 quarters. They...
Rates of return (annualized) in two investment portfolios are compared over the last 12 quarters. They are considered similar in safety, but portfolio B is advertised as being “less volatile.” (a) At α = .025, does the sample show that portfolio A has significantly greater variance in rates of return than portfolio B? (b) At α = .025, is there a significant difference in the means? Portfolio A Portfolio B 5.23 8.96 10.91 8.60 12.49 7.61 4.17 6.60 5.54 7.77...
A cognitive retraining clinic assists outpatient victims of head injury, anoxia, or other conditions that result...
A cognitive retraining clinic assists outpatient victims of head injury, anoxia, or other conditions that result in cognitive impairment. Each incoming patient is evaluated to establish an appropriate treatment program and estimated length of stay. To see if the evaluation teams are consistent, 12 randomly chosen patients are separately evaluated by two expert teams (A and B) as shown.      Estimated Length of Stay in Weeks Patient   Team 1 2 3 4 5 6 7 8 9 10 11 12...
Use Excel) A recent report criticizes SAT-test-preparation providers for promising big score gains without any hard...
Use Excel) A recent report criticizes SAT-test-preparation providers for promising big score gains without any hard data to back up such claims (The Wall Street Journal, May 20, 2009). Suppose eight college-bound students take a mock SAT, complete a three-month test-prep course, and then take the real SAT. Let the difference be defined as Score on Mock SAT minus Score on Real SAT. Use Table 2. Student Score on Mock SAT Score on Real SAT 1 1,868             1,852           ...
Nine homes are chosen at random from real estate listings in two suburban neighborhoods, and the...
Nine homes are chosen at random from real estate listings in two suburban neighborhoods, and the square footage of each home is noted in the following table. Size of Homes in Two Subdivisions   Subdivision Square Footage   Greenwood 2,312 2,471 2,490 2,892 2,341 2,412 2,830 2,723 2,350   Pinewood 2,600 2,494 2,558 2,816 2,391 2,574 2,558 2,854 3,466 (a) Choose the appropriate hypothesis to test if there is a difference between the average sizes of homes in the two neighborhoods at the...
An experimental surgical procedure is being studied as an alternative to the old method. Both methods...
An experimental surgical procedure is being studied as an alternative to the old method. Both methods are considered safe. Five surgeons perform the operation on two patients matched by age, sex, and other relevant factors, with the results shown. The time to complete the surgery (in minutes) is recorded. Surgeon 1 Surgeon 2 Surgeon 3 Surgeon 4 Surgeon 5 Old way 37 56 33 35 64 New way 35 38 31 34 50 (a-1) Calculate the difference between the new...
Lester Hollar is vice president for human resources for a large manufacturing company. In recent years,...
Lester Hollar is vice president for human resources for a large manufacturing company. In recent years, he has noticed an increase in absenteeism, which he thinks is related to the general health of the employees. Four years ago, in an attempt to improve the situation, he began a fitness program in which employees exercise during their lunch hour. To evaluate the program, he selected a random sample of eight participants and found the number of days each was absent in...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT