Use the ratio or interval numerical data from one of the data sets available through the Data Sets link on your student website.
Develop one research question from which you will formulate a research hypothesis. " Price of property is greater closer to the city"
Distance Vs Price
o Formulate both a numerical and verbal hypothesis statement regarding your research issue.
o Perform the five-step hypothesis test on data pertaining to your selection.
o Describe the results of your test and explain how the findings from this hypothesis testing may be used to answer your research question.
o Include your raw data tables and the results of the computations of your z-test or t-test using graphical and tabular methods of displaying data and results.
o Format your paper consistent with APA guidelines.
The solution provides step-by-step method of performing a five-step hypothesis test on the given data. All the steps of hypothesis testing (formulation of null and alternate hypotheses, selection of significance level, choosing the appropriate test-statistic, decision rule, calculation of test-statistic and conclusion) have been explained and the statistical analysis has been shown in details.
One and Two Tailed Tests: Hypothesis Testing Problem
Ho: u = 50
H1: u not = 50
The sample mean is 49, and the sample size is 36. the population standard deviation is 5. Use the .05 significance level.
a. Is this a one or two tailed test.
b. What is the decision rule?
c. What is the value of the test statistic?
d. What is your decision regarding Ho?
e. What is the p-value? Interpret it.