10 May A Large Real Estate Company Has A Department That Assesses The Market Value Of Homes That Are Listed For Sale …
A large real estate company has a department that assesses the market value of homes that are listed for sale. To become an assessment specialist, a candidate has the following examination procedure. The candidate and an experienced manager both look at the same sample of houses and determine the assessed value of the house on their own. If the assessment of the manager and the trainee are not significantly different, the trainee passes the course and is certified. If there is a significant difference, the trainee must take another six weeks of training. The table below shows the results of the assessments for one examination (in thousands of $). Test to determine in the trainee has passed the course or if he requires another six weeks of training. Use alpha = .01 for the test. Manager 247 283 205 247 205 269 235 245 198 255 Trainee 239 273 215 223 195 265 229 231 181 241
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