Exercise 2 Many times property value appraisers estimate the value of specific properties with minor or sometimes major difference. A company that builds apartment buildings in Athens considers two...

Q10

Extracted text: Exercise 2 Many times property value appraisers estimate the value of specific properties with minor or sometimes major difference. A company that builds apartment buildings in Athens considers two appraisers, A and B, who give an estimate of the sale price of their apartments. The sales department of the company has observed that in most cases appraiser A gives smaller value estimates of their apartments. The company would like to know if this is true for estimated values of apartments of other companies. Let be the appraisal value of an apartment of other companies by appraiser A. Let *: be the appraisal value of an apartment of other companies by appraiser B. Also, let D = X, - X1. The company selected a random sample of apartments of other companies. Let be the appraisal value of each apartment in the sample by appraiser A. Let be the appraisal value of each apartment in the sample by appraiser B. The measurements and » are in thousands of euros and are given below. Let d = x, - x. At the 5% level of significance, do these data provide enough evidence to conclude that the mean estimation of the appraisal values of apartments by appraiser A is bigger than the mean estimation of the appraisal values of apartments by appraiser B? apartment x |x, apartment x, X2 apartment x x2 1 176 174 19 155 164 37 201205 164 160 20 190 189 38 155 148 3 153 145 21 187 186 39 162|166 4 184|180 22 207211 40 198|193 5 184 178 23 164 164 41 189 184 6. 207 211 24 204205 42 190 184 196 198 25 179 174 43 189 189 8 163 162 26 193 198 44 149 143 180|186 27 209209 45 223 223 10 191 196 28 186|187 46 184 180 11 148 141 29 166 162 47 185|189 12 220217 30 189 180 48 190|188 13 219 211 31 173 177 49 148 140 14 140 144 32 184 178 50 187 184 15 161 162 33 144|139 51 188187 16 188183 34 188 190 52 186 187 17 159 160 35 169 165 53 200 197 18 203216 36 181 183 54 167 170 2.


Extracted text: Question 10 { 3 decimal places } Find the p-value.