Due Date & Time: Must be Uploaded by Wednesday, March 4, 2015 by 23:59 hrs.

A 'Grace Period' of 1 extra day will be allowed with severe penalty.

Integrity Statement: Must be Printed/ Signed and Attached.

General Instructions:

When you perform a test of hypothesis, you must always use the 4-step approach: i. S1:the “Null” and “Alternate” hypotheses, ii. S2: calculate value of the test statistic, iii. S3: the level of significance and the critical value of the statistic, iv. S4: your decision rule and the conclusion reached in not rejecting or rejecting the null hypothesis. When asked to calculate p–value, S5, relate the p-value to the level of significance in reaching your conclusion.

If you use MiniTab to perform the hypothesis test, you must cut and paste the relevant output into your assignment. This output simply verifies and occasionally replaces the manual computation of the test statistic, p-value or the confidence interval. You must supply all the required steps, mentioned above, to make your testing procedure standard and complete.

If Confidence Coefficient (CC) and Level of Significance (LS) are not specified, assume the default values to be 95% and 5% respectively. Use precision level of only 4 Decimal Digits (DD) when calculations are done with a calculator.

Please Note: Assignment#2 is posted on BBLearn and must be uploaded to BBLearn in the '.pdf' format before the Due Date & Time .

Question #1 (20 marks) : Common Data for Qu.#1 and Qu.#2.

RE-Agenc1 RE-Agenc2

2652 2532 2820 2664 2592 2736 3024 2760 2904 2676 2736 2820 3168 3180 3024 2820 2772 2652 3180 2856 3150 2790

Two Real Estate Agencies, RE-Agenc1 and RE-Agenc2 evaluated properties chosen with two independent random samples of income properties. The evaluation data is given above and the values are in thousands of dollars. Since the Real Estate Agencies had a different corporate culture, it