Answer to Question #151350 in Statistics and Probability for Eric Koomson

Question

A group of reputable housing firms in Ghana claim that the mean price of residential homes before the change of government does not exceeds the mean price after the new government in Ghana came to power. Tonaton.com in Ghana wishing to determine the authenticity of the claim, selected sample of residential properties to appraise their prices before and after the change of government. The results, reported in GHc000, are:
Before After
128 135
105 110
119 131
140 142
98 105
123 130
127 131
115 110
122 125
145 149
At the 0.01 significance level:
a) Make your decision using the critical value approach.
b) What is the p-value? Decide with it
c) Mention one assumption that needs to be made about the distribution of the differences?
d) Is the change of government associated with the higher prices of residential homes? Justify practically.

Answer 1

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