Determining the foreclosure rates

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Reference no: EM131008611

Foreclosure rates

According to recent reports, home foreclosures were up 47% in March 2008 compared to the previous year (realestate.msn.com; April 2008). The data show home foreclosure rates (as % change from the previous year) for a sample of cities in two regions of the U.S., the Northeast and the Southwest.

Northeast: 2.99, - 2.36, 3.03, 1.01, 5.77, 9.95, - 3.52,

7.16, - 3.34, 4.75, 5.25, 6.21, 1.67, - 2.45, - 0.55, 3.45,

4.50, 1.87, - 2.15, - 0.75

Southwest: 10.15, 23.05, 18.95, 21.16, 17.45, 12.67,

13.75, 29.42, 11.45, 16.77, 12.67, 13.69, 25.81, 21.16,

19.67, 11.88, 13.67, 18.00, 12.88

a) Write the null and alternative hypotheses.

b) Check the conditions.

c) Test the hypothesis and find the P-value.

d) Is there a significant difference in the mean home foreclosure rates between these two regions of the U.S.? Explain.

Reference no: EM131008611

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