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Review problem on the press association mediapoint

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Reference no: EM131752869

Question: Marketing and Consumer Behavior The Press Association Mediapoint recently released a housing market report for England that included how long it would take a typical first-time buyer to save for a deposit in their local area. Independent random samples of first-time buyers were obtained in two areas, and the time (in years) needed for a couple to save for the deposit was recorded for each. The summary statistics are given in the following table.

1013_Area.png

a. Is there any evidence to suggest that the mean time needed for a couple to save for a deposit is different in these two areas? Use a = 0.05.

b. Find the p value associated with this hypothesis test.

c. The sample means, 4.5 and 4.8, seem close together. Can you find a value n = n1 = n2 such that the hypothesis test is significant at the a = 0.05 level?

Reference no: EM131752869

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