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(Solved): An entrepreneur owns some land that he wishes to develop. He identifies two development options: bu ...




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An entrepreneur owns some land that he wishes to develop. He identifies two development options: build condominiums or build apartment buildings. Accordingly, he reviews public records and derives the following summary measures concerning annua! profitability based on a random sample of 35 for each such local business venture. For the analysis, he uses a historical (population) standard deviation of for condominiums and for apartment buildings. (You may find it useful to reference the appropriate table: ztable or (table) Sample 1 represents condominiums and Sample 2 represents apartment buildings. a. Set up the hypotheses to test whether the mean profitability differs between condominlums and apartment buildings. b. Calculate the value of the test statistic. (Round final answer to 3 decimal places.)


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