Two real estate companies, Century 21 and RE/MAX, compete with one another in a local market. The manager of the Century 21 office would like to advertise that homes listed with RE/MAX average more than 10 days on the market when compared to homes listed with his company. The following data shows the sample size and average number of days on the market for the two companies along with the population standard deviations.
If Population 1 is defined as RE/MAX and Population 2 is defined as Century 21, and using
α = 0.10, the conclusion for this hypothesis test would be because the test statistic is
▸ more than the critical value, the manager at Century 21 can claim that homes listed with RE/MAX average more than 10 days on the market when compared to homes listed with his company.
▸ less than the critical value, the manager at Century 21 can claim that homes listed with RE/MAX average more than 10 days on the market when compared to homes listed with his company.
▸ more than the critical value, the manager at Century 21 cannot claim that homes listed with RE/MAX average more than 10 days on the market when compared to homes listed with his company.
▸ less than the critical value, the manager at Century 21 cannot claim that homes listed with RE/MAX average more than 10 days on the market when compared to homes listed with his company.
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